According to the “2011 China Personal Fortune Report,” the country is home to more than 500,000 people with disposable assets of $1.6 million. Last year, the Hurun Report said China currently has 4,000 yuan billionaires.
A new independent website, HHtravel, has just launched with the hopes of building unprecedented ultra-luxury vacations for China’s wealthy. This market, the company believes, is under served.
Already renowned for its signature around-the-world trip, HHtravel’s website offers 50 other exclusive vacation packages. They are divided into nine themes, including “island getaways,” “soft adventures,” and “top-notch train journeys.”
HHtravel’s trips last up to a month and cost approximately $16,000. Don’t let sticker shock get the best of you. All excursions include business-class transportation, dining at Michelin-star restaurants, award-winning hotels (and resorts, and castles…and royal palaces), and two seats per traveler on coaches.
Though no service like HHtravel’s website has existed before, not everyone is convinced it will be an instant hit. Wang Xinjun, founder of Ivy Alliance Consulting, says wealthy Chinese normally don’t travel through tourist agencies, simply because “most agencies can’t arrange what these people want, for example, to climb Kilimanjaro in Africa.” He also says they tend to prefer unique, solitary experiences, like trips to Bhutan to experience happiness. Tourist groups are often the very thing they are trying to avoid.
Despite the large number of tycoons in China, some believe the super-luxury travel market is limited in its growth potential as it is much smaller compared with the regular travel market. But it can certainly be lucrative.
image credit: hh travel