Private jet and luxury car spending is above the global average among Africa's elite.

The Wealth Report 2016, released by Knight Frank, revealed that UHNWIs in Africa have a "much stronger propensity for private jet ownership" at twice the global average. For wealth Africans, private jet ownership can be as much about practicality as it is about status symbols as they are used to overcome long continental travel distances and gaps in commercial travel infrastructure between business hubs.

Within Africa, the report revealed, the number of UHNWIs with a luxury car is 1.55 times the global average. While wealth in Africa is concentrated in certain countries, Knight Frank's analysts predict growth potential for luxury brands, including high-end automotive marques.

The report went on to recommend that luxury automotive brands recalibrate their product offerings to "navigate the intricacies of doing business" in Africa's emerging marketplace. Top-end brands, such as Bentley, Jaguar and Maserati, have released SUV models which are more suited to rougher terrain.

www.knightfrank.co.uk