BEIJING — Chinese tourists, who have rapidly changing and increasingly sophisticated tastes, already dominate several key Asian retail markets, and their influence is apt to grow, according to a new report on luxury consumption from HSBC.
The bank’s analysis, laid out in the report “The Bling Dynasty,” explores the growing impact of traveling Chinese luxury retail shoppers in five markets: Hong Kong, South Korea, Taiwan, Singapore and Macau. HSBC estimates that Chinese citizens will make 88 million outbound trips this year and 155 million by 2020.
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