China is also growing exponentially in their inbound and outbound tourism sector.
Robert Upe writing in The Sydney Morning Herald says rich Chinese tourists are likely to own three cars and four watches and their leisure preferences, after travelling, include reading, tea-tasting, driving and spending time with family – in that order. They also like karaoke and foot massages.
The interesting statistics he quotes come from the latest research from luxury publishing group, Hurun Report, released at Shanghai’s annual International Luxury Travel Market this week.
The Hurun profile of wealthy Chinese travellers says there are 600 billionaires in China and 2.8 million millionaires, measured in US dollars.Upe says their favourite hotel chain is the Shangri-La and when they shop – which is often – they clamour for high-end French brands such as Louis Vuitton, Hermes, Chanel, and Cartier – possibly why France is at the top of their list of preferred overseas luxury destinations.
They are helping drive the top end of the tourist market…
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