Vip's are the most important people among the population.They must be respected accordingly.they are the one who wil be a great leader in the society or they may be of politicians.But their importance and respect among people is getting reduced due to many corruption all over.
Well they're very important at least, rather than the most important which in turn is quite subjective.
As far as respect is concearned, one earns respect based on their actions. I don't respect, say, Justin Bieber because he's a famous popstar because I hate his music. But i respect him as I would any other person. But it's a fragile alliance