Insite Security, a full-service security and risk management firm for corporations and high net worth individuals, surveyed more than 300 high net worth individuals on their post-recession attitudes toward the economy, politics and lifestyle.
Additional key findings from the study include:
- 94 percent of respondents are actively concerned about the global unrest plaguing the world today.
- 90 percent of respondents have an overall negative view of the current global economic climate
- 41 percent of respondents have little or no faith that the U.S. will be able to right itself in this fiscal climate
"The survey found a seismic shift in the attitudes of the wealthy and how they are living their lives, the way they travel and how they are running their businesses," said Christopher Falkenberg, President, Insite Security.
More than a third of respondents (35%) say that security concerns have negatively impacted business or investment plans. More than a quarter (28%) say they have had to change business or investment plans due to political unrest in other markets.
"In a new age of political unrest and increased global security concerns impacting the economy, the wealthy must educate themselves on how to protect both their families and their businesses," added Mr. Falkenberg. "We have been advising our clients to carefully evaluate their travel security planning and take necessary precautions such as curbing ostentatious purchases and being more inconspicuous when they travel."
Most respondents (54%) say they are limiting their flashy purchases, with 22% saying they are definitely doing so and a third (33%) somewhat doing so. A strong majority of respondents (70%) say they are making life choices to mitigate another financial collapse, with 29% definitely making choices to mitigate, and 42% somewhat making such choices.
"While this data shows that the wealthy are very pessimistic, it also shows they are starting to empower themselves to guard against future political and fiscal uncertainty," continued Mr. Falkenberg.
