India: Visa Inc., a global leader in digital payments, has released its latest Visa Consulting and Analytics (VCA) Whitepaper titled India’s Affluent Economy 2025–2026, offering deep insights into evolving consumption patterns among India’s affluent population.
The report, developed by Visa Consulting and Analytics in collaboration with YouGov, examines affluence through a behavioural lens rather than purely income-based metrics. It reveals a decisive shift toward intentional, experience-led spending, where purchases are increasingly aligned with identity, exclusivity, and lifestyle value.
A key finding highlights the rapid expansion of India’s affluent base, with individuals earning over ₹10 lakh nearly doubling from 69 lakh to 130 lakh. This surge is driving higher discretionary spending, particularly through credit cards, which have emerged as primary enablers of premium lifestyle consumption.
Affluence Expanding Beyond Metros : The study underscores that affluence is no longer confined to metro cities such as Mumbai, Delhi, and Bengaluru. Emerging cities like Ahmedabad, Surat, Jaipur, and Lucknow are witnessing similar consumption behaviours, signalling a broader geographic spread of wealth and aspiration.
Experience Over Ownership : The report indicates a clear transition from ownership to access-driven luxury. Over 50% of affluent consumers use cards for elite memberships, while 70% show interest in limited-edition and curated offerings. Travel dominates discretionary spending, accounting for 58% among ultra-elite consumers, followed by retail and luxury at 28%.
Dining, Technology, and Wellness Trends : Premium dining has become more frequent, with nearly 80% of affluent individuals dining at high-end establishments at least three times annually. The annual dining spend averages around ₹2 lakh, with ₹50,000 emerging as a premium benchmark per experience.
Technology is increasingly perceived as a lifestyle category, with high-end gadget spending averaging ₹60,000 per purchase. Meanwhile, wellness has become routine, with ultra-elite consumers significantly more likely to engage in spa visits and cosmetic treatments.
Global and Cross-Border Spending Growth : Cross-border spending penetration among elite consumers has reached 63%, reflecting increased global exposure and demand for international experiences.
Commenting on the findings, Sushmit Nath, Head of Visa Consulting & Analytics, India and South Asia, said, “Affluence in India is no longer episodic. Premium consumption is becoming integral to everyday life, driven by a desire for seamless, curated, and exclusive experiences across travel, dining, and lifestyle categories.”
Outlook: A Shift Toward Lifestyle Ecosystems : The whitepaper concludes that India’s affluent consumers are increasingly seeking integrated lifestyle ecosystems rather than standalone products. The emphasis is on convenience, time efficiency, and access to bespoke experiences through trusted platforms.
As affluence expands into new cities and demographics, brands that establish early, culturally relevant, and locally embedded strategies are likely to lead in India’s evolving luxury and premium consumption landscape.