Affluent Asians Want Aircrafts and Yachts

 - Dec 28, 2007   Updated: Apr 8 2011
Helicopters, small aircraft, and luxury sailing yachts are becoming the ultimate accessories of the super-rich in China. This is a new marketing trend that will be a boon for companies seeking to bring a wealthy western lifestyle to Chinese millionaires. These affluent Asians are looking to spend their money on leisure luxuries, something uncommon in the culture until recent times.

"New marinas are being developed, and the government is promoting sailing ahead of next year's Olympics. Out of the just 400 private boats registered nationwide, almost all of them are motorboats. But, Adrien Magnan of Marine Dragon Consulting in Shanghai cites that the amount spent on luxury boats has been escalating upwards by tens of millions of dollars in the past few years.

Pleasure sailing, virtually unheard of in China until a few years ago, is becoming increasing popular. Chinese millionaires are willing to spend a fortune on yachts and aircrafts. Looks like the wealthy Chinese customers are seeking a western lifestyle."

Implications - The luxury products industry seems to get more extravagant with each passing year.