Chinese Tourists Spent 1.2 Trillion Yuan Abroad in 2015

Chinese Tourists Spent 1.2 Trillion Yuan Abroad in 2015
Feb 16, 2016 By eChinacities.com

In 2015, Chinese tourists spent a total of 1.2 trillion Yuan overseas, keeping their title of the world’s largest consumers while traveling. In the past, Chinese tourists have been referred to as “walking wallets.”

Chinese consumption of luxury goods worldwide reached $116.8 billion in 2015. Last year, Chinese purchased 46% of the world’s luxury goods. $91 billion of luxury goods purchased by Chinese were acquired abroad, about 78% of total luxury goods sales.

One of the main factors here is price. For high-end alcohol, prices are often 60 to 85% lower abroad. Watches are usually about 30% cheaper when purchased abroad, and can be found on sale up to 83% cheaper. Chinese consumers often buy clothing, perfume, bags, cosmetics, and shoes abroad for 30% cheaper than in China.

Chinese consumers who shop abroad are mainly aged 25 to 40 years old. 25 to 30 year olds mainly buy shoes, clothing, and cosmetics. 30 to 35 year old prefer luggage and electronics. 35 to 40 year olds purchase jewelry, and are also concerned with buying safe, healthy products.

Source: inews.qq.com

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Keywords: Chinese luxury goods Chinese spending Chinese tourists

1 Comments

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Englteachted

Chinese government policies make it so that Chinese manufacturers and businesses get away with selling overpriced, crappy, counterfeit and toxic goods. This forces Chinese tourists to buy basic goods abroad. If China's leaders had any sense they would do the math and understand how this hurts their economy.

Feb 16, 2016 19:49 Report Abuse