Mastercard Licking Lips for Chinese Buyers
Submitted by Bill Belew on Friday, 7 September 2007No Comment
MasterCard Worldwide is licking their lips for Chinese buyers.
In a recent report, MasterCard predicted that young Chinese will spend $24.6 billion on luxury goods in the next 10 years.
Elder wealthy Chinese will spend $18 billion.
The younger Chinese are better educated and have a more open attitude toward consumption than their grandparents = more willing to spend.
The deman for luxury goods in the Asian-Pacific region is expected to grow by 12%
every year…for the elderly even more.
Chinese, says MasterCard would rather buy things than service.
Just wait until the credit card bill comes due.
How much do you owe on your credit card bill?
Leave a comment!