A new study reveals that Chinese luxury travelers are vacationing less than last year, but spending more on shopping than any other nationality. The Hurun Report released its third annual Chinese Luxury Traveler research, in association with ITLM, to calculate the number of Chinese luxury travelers, evaluate their consumption and market trends over the year. The findings were based on a survey of 100 Chinese individuals worth at least 10 million yuan ($1.6 million).
Research shows nearly US$1,200 is spent per trip on shopping alone for the average Chinese vacation. Chinese shoppers now outspend Russians, Japanese, and Americans tourists. 43% of Chinese travelers spend over US$5,000 (excluding flights) per trip, and 11% of them spend over US$10,000.
Europe has continued to remain a top destination for the Chinese jetset, with France ranking in as the most visited country. Half of the top ten most visited countries are in Europe, with the U.S. and Singapore rounding out the top three.
Peak travel times include the Spring Festival, October holiday and Chinese New Year, though travel is increasing in the off-season as well. The Shangri-La Hotel continues to be a favorite stay for the luxury inclined.
For more information on the report please visit www.hurun.net