Lifestyle that involves freely travelling to major cities of the world and always going for the most expensive accomodation. Synonymous with Haute couture, aristocracy etc.
Those who bash the jet set lifestyle will 99.9% of the time not be able to afford it. The other 1 in 1000 people who discriminate against it are usually former jet setters too old for travelling much, have a fear of flying (but there's always boats) or simply live in a cave.
A term used to describe a persons lifestyle or an international social group of wealthy people who participate in social activities all around the world that are unreachable to ordinary people who don't have private jets.
Man I'd love to have Paris Hilton's jetset life. It must be nice not having to do anything but fly around the world and go to parties.