World's super rich keep buying up luxury goods in face of wealth decline

Sales of super-yachts rose 40% last year despite number of millionaires and ultra rich falling, according to wealth report

The global super rich continued to splash out on super-yachts and luxury goods last year, despite a decline in their overall wealth in the wake of financial market turmoil.

According to the latest wealth report from estate agents Knight Frank, published on Wednesday, sales of super-yachts - boats longer than 24 metres - soared 40% in 2015, with the rich roaring off to ever more far-flung destinations, such as the Antarctic and outposts in Asia, rather than their traditional ports of call in the Mediterranean and the Caribbean.

Related: World's 20 richest people are $70bn poorer, says Forbes