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Over the previous decade, China and in addition the Chinese have driven the world in extravagance shopping. Retailers, extravagance brands and property designers alike have fallen more than each other to capitalize on what they saw as an expanding working class, their adoration for all things extravagance and an affinity to spend as opposed…
An outline on the latest Chinese tourists outbound travel trends in 2016 A recent study carried out by Business Intelligence Fung Center indicated that the number of Chinese tourists was gradually growing. It has been estimated that this number could reach about 234 million by 2020 which means 100 million more than last year. The…
According to the Ministry of Commerce, Chinese tourists spended up to 1.2 trillion yuan ($183 billion) on shopping abroad last year ; mostly on luxury goods. The Fortunate Character Research Center evaluats the Chinese overseas consumption of luxury goods of 46% of the global purchases, namely $116.8 billion and at least $91 billion was spent…
Asia will grasp most of the Chinese outbound tourists The Pacific part of Asia will remain a first choice destination for the upcoming Chinese outbound tourists increase, the market is believed to grow by 17% in 2007 according to analysis from Euromonitor International. Top 7 destinations for Chinese tourists Thanks to an overall income rise…
The most popular foreign products in China Greater access to imported products Chinese buy many imported products for several reasons. With the democratization of the means of access to imported products, imported products consumed by China is increasing rapidly. Since the launch of Global Tmall by the Alibaba Group, the Chinese consumers have direct access…
A fair amount of luxury brands are highly considering to enter the 3rd tier and 4th tier cities in China Expansion in smaller cities? Over the past few years, many luxury brands have considered entering the 3rd and 4th tier cities around China, as they may offer some good market potential. Most of the time,…
Why going to the UK now? More Chinese Tourists to the UK After the Brexit vote, the economy of the country is not at its best. As we all heard, there is a volatile stock market and the pound is plunging. The good point here is that travelling to this region is…
Luxury tourism is a success: 2012 is the year when the Chinese tourists became the biggest spendthrifts of the world during their journeys abroad. A strength of even more powerful consumption is to be planned in coming 25 years. In spite of the fluctuations of stock-exchange market and the devaluation of the change, a slowing…
After last week’s Yuan dip, everyone has earned the right to wonder whether the Chinese tourist flood will continue to be as profitable as before. Last year more than 100 million Chinese travel traveled abroad. Their most favorite activity was undoubtedly luxury shopping with a particular taste for famous brands like Louis Vuitton, Cartier, Gucci…