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People's Daily Online>>China Business

Travelers get urge to splurge

By Wang Wen (China Daily)

15:52, February 03, 2012

Mainland tourists queuing at a luxury store in Hong Kong. According to the World Luxury Association, Europe, North America and Hong Kong, Macao and Taiwan were the main destinations for Chinese mainland shoppers during the Lunar New Year holiday. (Photo/China Daily)

Shops overseas attracting mainland visitors with lower prices: Survey

BEIJING - Chinese consumers were big buyers of luxury goods worldwide during the recent Spring Festival holiday, an industry report showed.

Chinese tourists' spending on luxury goods overseas reached $7.2 billion in January, driven by holiday trips during the Spring Festival holiday that began on Jan 23, the World Luxury Association said in a report on Wednesday.
The figure was a record for Chinese residents buying luxury goods overseas, and was 15 percent higher than the association's pre-holiday forecast, the report said.

Lower prices overseas were the key attraction, with about 72 percent of those surveyed citing that factor, said Ouyang Kun, chief executive officer of the association's China office.

The report said that Europe, North America, Hong Kong, Macao and Taiwan were the main destinations of these shoppers.

Chinese consumers contributed as much as 62 percent of the total sales in Europe's luxury market during the festival, the association found.

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