Venezuelan's + Oil + Status Obsessions = Scotch Whiskey Boom

The New York Times reports on the lifestyle affects of the oil boom in Venezuela. Venezuela has always been status-obsessed, but now they've got the money to do something about it. And, luxury brands are more than happy to exploit thia trend.

"New Porsches and Range Rovers crowd the streets here. Rents for a three-bedroom apartment in leafy districts like Altamira and Los Palos Grandes have doubled since January to $6,000 a month. But what most vividly illustrates Venezuela’s latest oil boom may be its Scotch whiskey sales, which are soaring. Diageo, the British company that markets Johnnie Walker and Old Parr, said the volume of its Scotch sold in Venezuela climbed 60 percent in 2005. Distillers can expect robust sales again this year as hig oil prices lift Venezuela’s fortunes. The economy expanded 9.6 percent in the first half of the year, enhancing access to many imports."

Scotch whiskey holds a rarefied place in the collective psyche of this status-obsessed country of 26 million. Per capita consumption outstrips that in relatively prosperous neighbors like Brazil and Argentina. Venezuelans, both young and old, often drink Scotch over a leisurely lunch, at family gatherings, at nightclubs, or as an aperitif, their ice-clinking glasses filled to the rim.