The most popular hobbies of wealthy South Africans were recently reviewed in a collaborative study by wealth intelligence firm New World Wealth and luxury lifestyle development Steyn City. Golf is currently the most popular pastime of local high-net worth individual (HNWIs) with collecting art and cycling also high on the list. Golf is particularly popular among retired HNWIs who enjoy access to some of world’s best golf courses, including Steyn City, Fancourt Links, Highland Gate, and the Gary Player golf course in Sun City.
The coronavirus pandemic is seen to have revitalised golf as it allows for easy social distancing and many HNWIs and executives are now working from home with more golf played during weekdays. Cycling and watch collecting have become more popular among local HNWIs over the past decade (2010 to 2020). The rise of these two hobbies is a global trend that is mirrored in most other major markets globally. This was evident at Steyn City last year, when pro and casual cyclists took advantage of this lifestyle development’s 45km mountainbike trail which had been upgraded for the 947 Ride Joburg MTB Race.
The track has now been endorsed by many high-profile competitive cyclists, including Fritz Pienaar, holder of multiple South African mountain bike championship titles. Popular watch brands for local HNWI collectors include Patek Philippe, Breguet and Vacheron Constantin. The prices for these watches range from R300,000 to well over R10m.