By 2015, China will be the world’s largest market for luxury goods, and experts predict it will continue to grow over the next few years.
From flash cars to private planes - these are just a couple of the many toys for the wealthy on show at the Hainan Luxury Expo. It’s little wonder exhibitors are heading to Sanya’s sparkling new marina.
Richard Leopold, brand director of Bentley, said, "There’s a large group of very wealthy people in this market now, and as that development continues, people want to find ways to express themselves."
The market is set to keep growing and luxury brands are eager to supply new and distinctive items. Unlike traditional financial investment, such as stocks and shares, wealthy Chinese are now looking into how expensive yachts like this might bring in added returns on high level business deals.
William Smith III, vice president of Trinity Yachts, said, "Well, this is our first big yacht in China, and it is owned by a business, and it will be used extensively for corporate entertaining, so we feel that this is probably the trend."
Like luxury yachts owners, wealthy people who want to buy private planes also hope the comfortable environment on board can boost business.
Ge Hongbao, a prospective buyer, said, "Taking my potential business partners on this plane will give me a lot of face, and they will also think that I have placed him on a pedestal. So this has got to be very good for business relationships moving forward."
Many other services are offered at the fair including fine wines, educational consulting, and tailor made trips to luxury destinations.