In its Visa Consulting and Analytics (VCA) Whitepaper, India’s Affluent Economy 2025–2026, the payment company revealed that affluent consumers are transitioning from ownership-based purchases to access-driven experiences, with spending habits closely linked to lifestyle preferences and personal identity.
The research, based on a Visa-commissioned YouGov survey and VisaNet data across various sectors including travel, dining, retail, and lifestyle, indicates that India’s affluent demographic is expanding swiftly. The number of individuals earning over ₹10 lakh annually has nearly doubled, from 69 lakh to 130 lakh, reflecting a wider pool of consumers engaged in discretionary spending.
Visa noted that wealth is increasingly spreading beyond major metropolitan areas like Mumbai, Delhi, and Bengaluru, with newer markets such as Ahmedabad, Surat, Jaipur, and Lucknow exhibiting comparable consumption patterns.
The report states that annual dining expenditures among affluent consumers average around ₹2 lakh, while cross-border spending penetration in elite demographics is at 63%.
Travel constitutes 58% of discretionary spending among Ultra Elite consumers, followed by retail and luxury purchases at 28%.
The report also pointed out that nearly 80% of affluent Indians dine at upscale restaurants at least three times a year, and about 75% make high-end retail purchases each quarter. Additionally, 25% of affluent consumers purchase premium items as often as every two weeks.
Visa emphasized that credit cards are essential for facilitating premium spending, especially in areas like travel, dining, wellness, and luxury retail. Moreover, over half of affluent consumers utilize cards for elite memberships, and 70% express interest in limited-edition or exclusive product releases.
Sushmit Nath, Head of Visa Consulting & Analytics for India and South Asia, stated that these findings illustrate a fundamental change in consumption behavior.
“Our analysis indicates that affluence is no longer a sporadic phenomenon. Discretionary spending is moving away from milestones and increasingly focuses on experiences, driven by a demand for exclusivity and seamless access in travel, dining, wellness, and lifestyle,” Nath remarked.
The report further highlighted that affluent consumers are looking for integrated ecosystems that merge various lifestyle services instead of standalone products, with convenience and access emerging as crucial factors influencing premium spending choices.
