With the “official” number of new fat-cat millionaires jumping by 272 last year, reaching several thousand money-bags in total, the prospects of the luxury goods market in the country may seem to be promising. However, the majority of really rich Lithuanians, who could spend 50,000 litas for a Rolex watch at a sigh, tend to be very secretive about their wealth, playing down their luxurious purchases, meekly calling them lifestyle “necessities” rather than the signs of luxury. This approach is due to the uncertainty about the pending adverse tax policies towards well-to-do citizens and the luxury market.

Some wealthy people seem to deliberately assume a composed mentality in order not to raise envy from their neighbors, co-workers, constituents and others. Vaidas Simaitis, owner of the prestigious residential and commercial real estate sprawl in Sventoji, a resort-type settlement 12 kilometers north of Palanga, drives a prestigious Mercedes-Benz CL65 AMG, wears a diamond-studded watch and has recently vacationed with his family in the Dominican Republic, a holiday which, for many Lithuanians, may seem to squander a life-time’s fortune.

Source: Baltic Times