The Chinese traveler represents the biggest opportunity for brands in the hospitality and tourism sector and is the largest demographic segment of global travel, Agility Research & Strategy, a world class leading research agency focused on the Affluent consumer, recently informed Greek tourism professionals.
The Affluent are a growing class of consumers that represent the top 25 percent income levels in a country. Given their purchasing power and market influence, they cannot be ignored by marketers. The United States of America is home to the largest group of Affluent consumers, followed by Europe. Close behind with over a billion Affluent consumers within the next 10 years is Asia.
The Singapore-based agency recently hosted a lunch briefing in Athens, Greece, on the occasion of the 2nd Luxury Hospitality 2014 conference, and shared some of their latest insights on the behavior and preferences of affluent Chinese consumers and what makes them tick.
With over 100 million Chinese travelers heading out of China every year and many to Europe, Agility provided insight on what brands need to know to better understand these consumers.
Over 50 percent of affluent Chinese have disposable income of CNY 180,00 – 505,599 (app 25,000 – 70,000 euros). Travel represents a notable portion of total spending on luxury categories (15 percent).
The top destination for affluent Chinese travelers is Hong Kong, followed by Beijing, Seoul, Paris, London, Tokyo, Singapore, Milan and New York.
Athens, Greece, comes in 16th place as a preferred destination and in the 11th place in the top planned travel destinations category.
Where are they staying?
The top hotel brands preferred by affluent Chinese travelers include the Shangri-La, followed by the Hyatt, Holiday Inn, Sheraton, Mariott and other major brands.
The Chinese account for almost 50 percent of global luxury purchase.
The very high taxation that exists in China drives affluent consumers to travel abroad to do their shopping. Their top preferred brands include Channel, Christian Dior, Luis Vuitton, Gucci, Apple, Nikon, Samsung, Shiseido, etc.
According to the data provided by Agility, the best way to catch the attention of the affluent Chinese traveler is through sponsored links, website ads, Airport ads, Write-up on blogs and forums, online magazines and newspapers, articles and outdoor ads.
The 2nd Luxury Hospitality conference in Athens was organized by the Ecole hoteliere de Lausanne and the International New York Times.