We all like to ogle the goings-on of rich kids on Instagram, but how much do they really spend on their lavish lifestyles?
Unsurprisingly, a whole lot. A new report from Marriott and the Hurun Research Institute studied the habits of “Chinese young luxury travelers,” and found that on average, these youths spend $65,000 a year on traveling, with an additional $34,000 spent on travel shopping.
As Rupert Hoogewerf, Hurun Report Chairman and Chief Researcher, puts it, “The young luxury travelers has developed significant spending firepower, minted on the back of the recent boom in Chinese entrepreneurship, together with a growing class of second generation ‘rich kids’.”
The report finds that these rich kids spend an average of $500-per-night on a hotel; they love to go to Europe (particularly France) and Japan for shopping; they have grown more interested in adventure-type trips like “polar exploration and road trips” (we’re guessing for the ‘gramming opportunities); and they appreciate personalized service over all, demanding a selection of pillows to choose from and butlers. So, you know, the basic things in life.