How much is half of the market

by Welcome Chinese

categories China Market Outbound trends

tags china Fortune Character retail Welcome Chinese 


According to the Beijing-based Fortune Character Group, Chinese consumers spent €164 billion (1.2 trillion yuan) abroad last year, a number up from €148 billion in 2014. Luxury products gained the most of the attention: more than 60% of the consumers bought accessories such as cosmetics, handbags and mobile gadgets. The result has been an astonishing 46% of global luxury sales made by Chinese consumers.

The majority of purchases were made overseas, during trips, where high-end products are not exposed to heavy taxation. The China Chamber of International Commerce found that the prices of 37 high-end consumer goods were between 40% and 68% higher than for the same products in Germany, United States and France.

In view of a overseas growth of Chinese consumption by an average 28% annually during the 2005-2015 period – as stated by the Ministry of Commerce in Beijing –, the China Tourism Academy released an announcement saying that the factors behind the surge have been the appreciation of the yuan, the improved traveling conditions and attractive foreign shop and tourist markets.

The Fortune Character Group includes cosmetics and mobile gadgets among luxury products.

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Recent Comments

Commented by Bill Frankish, 29.08.2017

We at the Candlewood Suites Calgary Airport North, closely located to the Calgary airport YYC, have been certified by the China Tourism Academy as having reached the JADE STANDARD of "Welcome Chinese" Certification. As such we greet each guest with a special Welcome envelope with Chinese information on our extended stay hotel. Guests receive slippers, tea, and have access to kettles and rice cookers at no charge. Some items are available in our little convenience store called The Cupboard, and there is a Chinese Super Market about 2 kilometers away which has a full selection of food items, commonly found in China, including live fish. Also at the same shopping area, an authentic Chinese Restaurant called The T. Pot , China Bistro From our location we have easy access to main highways to take you to Banff National Park, or the Royal Tyrrell Museum, an excellent Dinosaur museum. Candlewood Suites is an excellent location with cooking facilities which provides a great home base as you travel to various attractions in the area.