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Travelling No.1 choice for millionaires

By Uking (
Updated: 2011-06-16 21:26
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Travelling fell among the most frequent ways of spending for rich Chinese people, according to the Chinese Luxury Traveler White Paper from the Hurun Report.

The number of rich people, with assets over 10 million yuan ($1.5 million), has reached 960,000 in China. The average age of the group is 39 years old and the male to female ration is 7:3.

France, the United States and Australia rank as the top three international destinations. Sanya in South China's Hainan province, Hong Kong and Southwest China's Yunnan province are the best domestic choices.

Among the high-end tourists, their first overseas destinations are the United States, Australia, Japan and Thailand. When it comes to second overseas travelling, they prefer Thailand, Singapore, Japan and Europe.

In 2010, 90 percent of rich people travel abroad and they went abroad an average of three times a year. The most popular travel times are during the Chinese National holiday in October, followed by the Spring Festival (Chinese lunar New Year) and the May Labor Day holiday.

The report also said the spending from Chinese tourists increased by 91 percent in 2010 from that in 2009. Watches and jewelry were the most popular purchases.

The report is based on 463 one-on-one interviews of rich Chinese people who have assets of over 10 million yuan.