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HURUN REPORT International Luxury Travel Market Asia 2012 |
www.iltm.net/asia
France and US top luxury destinations for Chinese luxury travellers
China today has 2.7 million millionaires with personal wealth of RMB 6 million (equivalent to US$950,000) and 63,500 super rich with more than RMB 100 million (US$15.8 million), according to a March white paper released by Hurun Report.
Chinese luxury travellers are a full fifteen years younger than their Western counterparts. On average, Chinese luxury travellers went on 3.6 leisure trips within China in 2011, and made 2.4 such trips abroad. The greater their wealth the more they travel, evidence of which is seen by the super rich who make an average of 4.2 trips within China, and 3.4 trips overseas.
Hong Kong, Sanya (Hainan Island) and Yunnan were the top three destinations in China. Among foreign destinations France was the most popular, followed by the US and Australia – though the wealthier the individual, the greater their preference for the US. Interest in Dubai is also growing, particularly among the super rich.
Chinese luxury travellers are a
full fifteen years younger than their Western counterparts
Rupert Hoogewerf, Chairman and Chief Researcher of Hurun Report, said, ‘The Chinese luxury traveller is now busier than ever, being 12 days on the road in China every month on average and taking 20 days of holiday a year. They do three international trips a year, still primarily for business but increasingly for leisure.’
Sightseeing and relaxation are HNWI’s main interests when they travel. Shopping is also an important aim with four in ten describing it as the main goal of their trip. Most people travel with family and friends and when it comes to finding a place to stay, luxury hotel chains are their first choice.
The statistics above can be found in The Chinese Luxury Consumer White Paper 2012 produced by the Hurun Research Institute in association with Industrial Bank, a ground-breaking report on private banking in China and the evolving lifestyle of the Chinese luxury consumer.
Rupert Hoogewerf Publisher, Hurun Report
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