earning money in China Mainland, spending money in other countries: oversea luxury goods are 70% more expensive than in China

Relevant data shows, 2011 Chinese tourists overseas consumption nearly 300 billion yuan. 529.6 billion yuan in 2012, compared with 2011 overseas spending surge. Obviously, 2013 will continue to maintain high growth. In the global economic downturn, favored by the European debt problem, the United States under the background of “fiscal cliff” effect, Chinese tourists overseas consumption, for the global economy and made important contribution to the GDP of other countries.

In China to earn money, spend money in another country, it has become a lot of rich Chinese way of life. Despite slowing growth in China, is to adjust the economic structure, is rich in domestic spending to boost domestic demand, but we also should respect the rich consumer rights abroad. We need to do is, think about why Chinese tourists are keen to overseas consumption, how to
increase domestic consumer market magnetic to attract rich people’s consumption.

Chinese tourists are keen to overseas spending, first is the problem of money. Not only illustrate the rich wealth grew rapidly, and shows that income gap is widening. The rich have no trouble back at home, will naturally let go of the hands and feet. Of course, does not rule out some people to take public funds for consumption abroad. This suggests we should pay attention to the rich spending money to come from abroad.

Followed by the lure of the overseas market. Is much lower cost than domestic overseas consumption on the one hand, especially in the rich consumer psychology of luxury goods prices, there are, according to data from China mainland luxury prices 70% higher on average than the French, 50% higher than that of the United States, about 45% higher than in Hong Kong… Mainland high prices due to import and export tariff, value-added tax, consumption tax is too high. Is said to have three kinds of taxes and fees, will be more than 60%. Overseas consumption market, on the other hand, some of the products, better quality assurance in China. This suggests china need to focus on domestic consumption environment.

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