China’s ultra rich travel less, but shop much more while abroad
Chinese outbound travel is hard to understand without understanding retail shopping as part of the mix. Rich Chinese travelers take that to a whole new level.
Excerpt from Wall Street Journal
China’s wealthy are travelling less overseas but spending more while abroad, according to a new study. The findings were based on a survey of 100 Chinese individuals worth at least 10 million yuan ($1.6 million), conducted by Hurun Report and the International Luxury Travel Market (full report embedded below).
The study found that the respondents’ top overseas travel destination, France, remained unchanged from last year, as did their preferred hotel brand, Shangri-La. However, they went on just 2.8 trips overseas last year, down from 3.2 in 2011.
Top international destinations for Chinese rich:
|Region||Popularity (by percentage)|
Source: Hunan Report Chinese Luxury Consumer Survey 2013
Chinese rich are traveling less in 2013, compared to 2012 and 2011:
Full Hurun Report: The Chinese Luxury Traveler 2013: