Report from World Luxury Association stated that, China becomes the second biggest country of luxury consumption, accounting for 18% of the global market share.

 

 

According to the report released by World Luxury Association recently, China people's consumption on luxury products like jewelry, clothes, leathery products, fragrance etc (not including private aircraft and yacht) in 2007 hit 8 billion US dollars, which was 18% of the global market share; population of luxury consumers accounted for 13% out of the globe. China becomes second biggest country of luxury consumption, with Japan being ahead.

 

 

It is expected in 2010, there will be 250 million consumers in China with purchasing power to buy luxuries, and that total consumption will reach 200 billion RMB. And in 2015, 32% of global luxury consumption will be from China, overtaking Japan.

 

 

Chasing back to the statistics drawn in 2004, we can see that at that time luxury consumption in China was 6 billion US dollars, accounting for 12% of the global market share. She ranked third. Now these new findings push her ranking to an upper position.

 

 

According to incomplete statistics, there was a turnover of 250 million RMB in first Top Marques Shanghai 2005; the figure changed to 500 million RMB in 2006 for the second show. Shenzhen Luxury Show 2006 enjoyed a turnover of over 200 million RMB in 3 days; and the turnover for Top (Luxury) Show Qingdao 2007 (held in May) almost reached 30 million RMB.

 

 

It was investigated that, the key buyers in Top (Luxury) Show Qingdao 2007 were high-end clubs, high class clubhouses, senior bank members and property owners. The Top (Luxury) Show Qingdao 2008 will be held in March this year. Mr. Wu, the person-in-charge, said the expected turnover had not been estimated yet.