? ?
BIZCHINA / Biz Life
Travel proves a hit among well-heeled
By Wang Zhenghua (China Daily)
Updated: 2007-08-14 09:54
SHANGHAI: The country's wealthiest residents are increasingly willing to
loosen the purse strings when it comes to sightseeing, according to the
results of a survey released yesterday.
Related readings:
?Travel agencies' revenue increases
?Online travel services ready for take-off
?Foreign tour firms set for easier travel
According to the Index of China's Affluent, a survey carried out by
MasterCard Worldwide, roughly 93 percent of the nation's affluent
households spent as much as $10,000 on leisure and recreational
activities last year, four times more than the per capita annual income
of Shanghai in 2006.
Nine-hundred respondents with annual incomes ranging from $16,000 to
$50,000 said domestic and overseas travel were key priorities when it
came to spending time and money.
This was followed by going to the gym, visiting theme or amusement parks,
sports and socializing.
"The number of affluent consumers in China is growing fast, and their
market power is being felt far and wide," said Yuwa Hedrick-Wong, an
economic advisor with MasterCard Worldwide.
"Domestically, new wealth in major cities on the mainland is powering
spending, lifestyle choices and mindset changes among affluent consumers,
and this has transformed the Chinese market," he added. "The affluent of
China are also avid overseas travelers, so their spending power will
impact the travel and hospitality industries globally, as well."
In the survey, which covered Beijing, Shanghai and Guangzhou, 43 percent
of the respondents said they had traveled at least three times on the
Chinese mainland last year, while 30 percent made at least three overseas
trips.
Hong Kong was the most popular overseas travel destination - 85.6 percent
of China's rich went there last year. Other destinations, including
France, Germany and Italy, attracted a smaller share of travelers in
2006, but Yuwa said these places should expect to see more Chinese
travelers, as should the United States and Australia.
On the domestic front, almost half of the affluent said they preferred
nature and scenic tours, while less than a quarter said they preferred
visiting cultural and historical sites.
The patterns for domestic travel were very different between the three
cities. Close to one-third of the affluent in Beijing favored beach
resorts, while only 5.5 percent and 6 percent in Shanghai and Guangzhou
respectively expressed the same preference.
(China Daily 08/14/2007 page5)
(For more biz stories, please visit Industry Updates)
Learn Chinese, Chinese language
