Chinese tourists as highest spender on Luxury goods in 2015

Chinese tourist as highest spender on Luxury goods in 2015

According to the Chinese Ministry of Commerce and the Fortune Character Research Center, it is estimated that tourists from China spent $116,8 Million in oversea on Luxury goods making them the highest spender on these items for the year 2015.

This is due to the convenient travelling conditions for Chinese citizen and the appreciation of the Chinese yuan, attractive foreign retail and tourist markets,which enable them to purchase these goods both physical and online.

Another reason for the surge of spending overseas on luxury goods is due to the high cost of these products on the
Chinese mainland,which is more expensive than the US, France and Germany.

The President of the Fortune center suggested the government lower the taxes of these luxury items and encourage
locally made products.

Source:Shangaiist