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 which last year hit an overall 83 million outbound trips from China. That figure is projected to rise to a staggering 94 million this year, the most travel of any country.
The China Daily recently reported that Chinese travellers spent $US85 billion ($89.6 billion) while overseas last year, double the annual revenue of multinational oil and gas corporation Exxon Mobil.
France, the US, Singapore, Switzerland, the UK and Italy are their favorite destinations. Australia has dropped from third to seventh place.
The Hurun Report was released at Shanghai’s annual International Luxury Travel Market where 500 of the world’s best resorts, hotels and travel experience operators, mostly rated five-star or better, have gathered for the luxury travel trade event.
Profile of rich Chinese traveller who spends more than $US10,000 per trip
Likes to go to: France, US
Stays at: Shangri-La, Hilton, Peninsula
Travels because of: Shopping, culture, cuisine, business potential
Travels in: First class (13 per cent), business class (62 per cent), economy (25 per cent)
Goes for: 7.4 days
Goes with: 1 to 2 people (16 per cent), 3 to 10 people (68 per cent), more than 11 people (16 per cent).
He wants: Louis Vuitton, Apple, Hermes
She wants: Chanel, Louis Vuitton, Cartier
Smoke: 50 per cent
Favourite sports: Swimming, golf, mountaineering, yoga, badminton
Source: Hurun Report