Caixin OnlineBusiness & IndustryTop Stories Industry Chinese to Buy One-quarter of World's Luxury Products in 2012, Report Says
12.21.2012 18:24

Chinese to Buy One-quarter of World's Luxury Products in 2012, Report Says

While purchases in the country rose only 7 percent, those made by travelers overseas surged a whopping 31 percent
By staff reporter Chen Fashan
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(Beijing) – The Chinese have become the world's biggest buyers of luxury products and will buy 25 percent of the total sold in 2012, a report by a business consulting firm predicts.

Purchases of luxury goods in mainland China rose 7 percent year on year this year, but purchases by Chinese people travelling overseas rose 31 percent, Bain & Company reported.

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