China’s billionaires and millionaires are a much-wanted market for the travel industry. But those rich have very distinct travel habits, discloses a new Hurun report, its founder Rupert Hoogewerf tells the China Daily. Key words: youth, self-reliance and brand loyalty.
Youth, self-reliance and brand loyalty are the defining characteristics of luxury outbound travelers in China. The study, based on interviews with 463 Chinese millionaires and billionaires, was put out by Hurun Report Inc, a leading publishing group famed for its China Rich List and affiliation with the International Luxury Travel Market, a high-end travel fair in Asia…
The demographic differences between Chinese and the Western luxury travelers have led to different consumer behavior, the survey revealed.
“Based on our research, the average age of Chinese millionaires is 39, whereas in the United States or Europe, the figure is over 50,” Hoogewerf told China Daily.
The group usually comprises individuals who have mostly lost interest in major cities in Europe and the US and are keen to seek authenticity, simplicity, and a commitment to local environment with customized services, Hoogewerf said.
To meet this need, Orient-Express Ltd launched a series of three- or six-night rail journeys this year,connecting travelers through Thailand, Malaysia, Laos and Singapore, with an in-depth travelexperience…
Chinese luxury travelers also exhibited distinct loyalty to international cachet, the report found.
Shangri-La remains the most popular hotel brand among Chinese billionaires.
For wealthy Chinese an iconic brand is always the dominant factor when picking hotels, followed by service, facilities and locations.
Smaller vendors, too, are taking concrete steps in building brand awareness to gain a bigger sharein this lucrative market.
Small Luxury Hotels of the World, for instance, has conducted a series of advertising campaigns through China’s popular social networking site renren.com, which includes a monthly lottery for a 12-night stay in any of its member hotels.
Rupert Hoogewerf is a speaker at the China Speakers Bureau. Do you need him at your meeting or conference? Do get in touch.
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