Rich Chinese millennials favour Japan, France for luxury tourism
France and Japan are the most popular global destinations for affluent Chinese millennials who value cultural sophistication and high-end shopping, according to a report on luxury travel.
Chinese tourists spent more than $215bn on foreign travel in 2015 ? 53 per cent more than the previous year ? becoming the world?s largest outbound tourist group, according to the International Tourism Organization.
According to the report on affluent Chinese travellers born after 1980, the Hurun Report, which publishes the annual Hurun China Rich List, found that foodies ranked Japan highest, while France was viewed as a ?shopping paradise?. Australia was the third most popular foreign destination.
The report is based on a survey of 525 young luxury travellers, defined as those who spend over Rmb200,000 ($30,400) annually on travel and tourism. More than half are second generation of a wealthy family or heirs to a family business. ?I often use the word ?picky?, but one could also say ?spoiled?,? said Rupert Hoogewerf, publisher of the Hurun Report.
Survey respondents spend an average of $64,000 on travel per household, of which retail accounted for $33,000. Clothing, bags, watches and jewellery are the most popular items. Their average hotel budget is $470 per night. Local specialities, electronics and alcohol were less sought after.
The Chinese international travel boom has so far largely escaped the impact of the Communist party?s anti-corruption campaign, but luxury goods producers h...
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