Luke Macgregor / Reuters
Woman exits Louis Vuitton shop in London.
Care to bet which country's tourists are some of the biggest spenders? It's not freewheeling Americans, luxury-seeking French, or penny-pinching Germans gone wild. No, according to a new report, it's the Chinese, dropping an average of over $1,000 a day. However, two high-rolling contingents were most responsible for driving up the overall numbers. Of the 3,000 Chinese tourists and 3,000 hoteliers surveyed, 15 percent said they spent $1,619 per day. An even higher echelon 2 percent spent $8,095 a day. They're not just snagging commemorative shot glasses either. Luxury goods are about 40 percent cheaper outside China and buyers like to be able to say they got them from the brands' country of origin. "We've done a survey of 41 cities in China and people say they want to go sightseeing or experience different cultures, but ultimately all they want to do is shop and gamble," research house CLSA's spokesman Aaron Fischer told CNBC.
- Ben Popken
First published July 18 2014, 9:08 AM