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Biz: Top destinations for Chinese luxury buyers

The global luxury market continues to record a slowdown, according to a report on Chinese shopping abroad released by Fortune Character Institute last week. High-end Chinese shoppers have been curtailing their spending over the past few years. This year, just 17 percent of those surveyed said they planned to increase their luxury spending, down from 41 percent in 2011. Still, Chinese consumers account for nearly half of the world's luxury spending and the report predicts that they would spend a total of $120 billion on luxury items this year. Find out the top 10 destinations where Chinese luxury buyers spend most.