Markets are fretting about China's economic health but it appears Chinese holidaymakers don't share the same concern about their own finances. And some brands are benefiting big-time.
According to the China National Tourism Association, 120 million Chinese traveled abroad in 2015, up about 20 per cent from 2014. They are venturing further away from the mainland and they are spending freely, splashing $165 billion overseas in 2014, according to the latest data from the United Nations World Tourism Organization.
Much of this goes on retail purchases, a recent study released by Euromonitor revealed; in France, Chinese tourists spend as much 40 percent of their holiday budget on shopping.
They are not shy of pricey purchases, according to an October 2015 report by consultancy Bain. Despite a slowing local economy, Chinese consumers remained the largest group of buyers of luxury goods, accounting for 31 percent of global purchases.
"Undoubtedly, Chinese consumers play a primary role in the growth of luxury spending worldwide," Federica Levato, principal at Bain and co-author of the study, said.
"High street" brands also remain popular but retailers don't benefit equally, other research found, with some unexpected brands carrying particular cache with mainland buyers.