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600 Billionaires, 2.8 Million Millionaires and counting.

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.  

Further down the list, they like karaoke, foot massages and a glass of wine or two.  

Their favourite hotel chain is the Shangri-La and when they shop – which is often – they opt for high-end French brands such as Louis Vuitton, Hermes, Chanel, and Cartier.  

France is at the top of their list of preferred overseas luxury destinations.

The profile of the rich travelers has been revealed in the latest research from luxury publishing group Hurun Report, released in Shanghai (May 2013) and it provides invaluable insights into the behaviour, choices and preferences of the wealthiest individuals in the fastest growing economy of the World.

Looking beyond the travel data that is the focus of the report - unless that is what you are interested in - we can hope to gain an insight and understanding of their lifestyle and preferences.

My key take aways from the report are;

  • The report estimates  there are 600 billionaires in China and 2.8 million millionaires (measured in US dollars).
  • The report categorizes China's main provinces and cities and provides a breakdown of distribution of the rich.
  • Overseas travel and tourism is a highly preferred choice for their leisure activities
  • They are very focused on improving their health through physical exercise and regular examinations and monitoring
  • Golf and swimming are the popular sports.
  • The Chinese super rich are highly educated - 80% with Masters level degree.
  • 80% of them plan to send their children overseas to study and high school is considered the most suitable time to start their child's international education.
  • The internet dominates as the preferred source for information and media consumption

You can download a copy here or This email address is being protected from spambots. You need JavaScript enabled to view it.. 

 

 

 

"Tourism reigns supreme as the number one leisure pursuit for China’s wealthy, with 63% of surveyed HNWIs listing travel as their preferred form of leisure activity, up 2% on last year. Reading is the second most popular, up 2% to 42%. Tea tasting and driving remain steady in third and fourth and spending time with one’s family remains in 5th." - Hurun Report, 2013