Chinese buying power

Paris, Tokyo, Hong Kong, New York city, Chinese shoppers are everywhere these days. Thanks to a strong Renminbi, which has been dropped from 8.27 to 1 dollar to 7.9 and keeps going up. Who can you blame when you have the money and want to spend on some real stuff instead of fake brand name products found everywhere in China?

According to a New York Times Article, France is Chinese shoppers' top destination, mostly because EU is on China's list of approved tourist destination in the year of 2004. European countries are willing to trade its influence for more commerce from China, which certainly helps Chinese government encourages its tourists to go there.

How about America, which has the biggest Chinese population outside China? The picture is not that good. Even Chinese gamblers seems to have taken over Las Vegas from time to time, however, Shopping is a priority for Chinese tourists who visit the U.S. Most of such tourists I know are visiting relatives, and their consumption power is way much limited.

One reason is also that to get a American visa is still hard, and having an embassy staff treats everyone seeking a visa as potential immigrants, it certainly doesn't help Chinese wealthy tourists to come here easily.