First, most luxury/discretionary spending will follow the simple rule: Go where the money is!!! The index below, while global, shows that our humble Boston does not crack the top-25 global and is not in the top-5 in the US.
Secondly, the cost of living in Boston is relatively high compared to Florida, Arizona, Nevada and most southern states. Living in a populace setting in the south/retirement belts and traveling north to do "business" is just plain economical.
Here’s the list of the top 25 global cities, according to the Citi index:
1. New York
2. London
3. Paris
4. Tokyo
5. Brussels
6. Los Angeles
7. Singapore
8. Beijing
9. Toronto
10. Berlin
11. Chicago
12. Washington, D.C.
13. Seoul
14. Frankfurt
15. Sydney
16. San Francisco
17. Hong Kong
18. Shanghai
19. Mexico City
20. Bangkok
21. Moscow
22. Zurich
23. Munich
24. Taipei
25. Sao Paulo