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Wealthy China Primed for $200 000 World Tours

One for every 1,300 Chinese mainland citizens has an asset exceeding 10 million yuan or $1.6 million in 2012.

As reported by China Tourism Academy, 68% of the wealthy Chinese spend more than 50,000 yuan or $8,000 during an overseas travel and 28% incur bills in excess of 100,000 yuan or $16,300.

This has led to the boom in travel agencies in the country. "We will cater to the demands of the rich, whatever their taste, in view of their hefty spending power," an industry veteran told Time Weekly.

Moreover, it was revealed that Chinese tourists spend a hefty $20,000 for one month travel to Antarctica. Out of the 35,354 tourists who went to Antarctica last year, 2,328, or 6.8% came from China, as reported by the IAATO (International Association of Antarctica Tour Operators).

SXC, an agent for space tours, then targets Chinese people for a ticket worth $221,000. "What we are pushing for rich Chinese travelers is a kind of life style," told the general manager.

"Chinese upstarts like lavish settings, casinos, pornographic performances and shopping and therefore, accommodations should be arranged in downtown areas, rather than holiday resorts in remote areas," supported by another veteran insider.

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Wealthy China Primed for $200 000 World Tours