Hey Big Spender! You Must be From Mainland China

(Image: midorisyu via Compfight cc )
(Image: midorisyu via Compfight cc )

China is the biggest luxury goods buyer in the world and their tourists are the biggest spenders on top shelf items when they go overseas says a report by China’s Luxury Goods Market Research Institute.

Last year Chinese tourists spent on average $1508 Euros on luxury goods, an amount that was more than double that spent by traveling Europeans and North Americans.

According to the report, the Chinese in 2013 purchased 47 percent of the world’s luxury goods but only 27 percent of it was purchased inside China itself.

The three main areas where the rich Chinese spent their money on luxury goods last year was firstly in Hong Kong and Macau, then Europe and the U.S.

Trends indicate that more money is now being spent on luxury good in the U.S. and Europe over Hong Kong and Macau.

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