Millionaire Get Rich Quick

Chinese tourists: biggest duty free shoppers in the world

China’s million millionaires love to shop, but they prefer not to do it in China – and the appreciation of the renminbi is making them even keener to get out of town before opening their pocketbooks.

According to a recent report from those purveyors of all wealth-based research in China, the Hurun Report, shopping is one of the biggest reasons that rich Chinese travel overseas – making them the biggest tax free shoppers in the world for the first time last year.

Global Blue , the tax free shopping experts, says in a newly published report that the average spending of outbound Chinese was $1,026 last year, more than twice as much as Russians, US and Japanese tax-free shoppers – and that represented more than a 100 per cent increase over 2009 spending.

Beijing seems keen to get its hands on more of that spend, by reducing punitive import duties to persuade China’s big spenders to fork out at home.

A spokesman for the ministry of commerce said last week that China would cut import duties, and Chinese newspapers speculate that the move could come before the next week-long national day holiday in October – which Hurun identifies as a popular time for overseas travel.

Hurun also points out that rich Chinese hate travel groups just about as much as the rest of us: 80 per cent of Chinese wealthy eschewed group travel. But even more surprisingly, the average size of the millionaire travel group was four – which, given China’s one child policy, must mean quite a few millionaires travel with Grandma; but then again, given the popularity of birth tourism – babies born overseas to rich Chinese parents – maybe the fourth traveller is in nappies.

Lower taxes may not keep the Chinese at home for long: the Hurun Report found that four out of five Chinese millionaires are thinking of sending their children overseas to study. “The richer they are, the younger they seem to want to send their children overseas” says Rupert Hoogewerf of Hurun. Shipping all those heirs overseas will keep the Chinese in the air visiting them – even if Beijing persuades them to spend less time in the duty free.

Daily Bothered-Get Rich Quick Schemes.

My name is Bothered , and I am your worst nightmare. I seem to be bothered by almost everything, and my mission is to get you just as bothered. It's amazing how many things there are in this world to aggravate, annoy, and drive us all crazy. If the entire world is bothering you. If people are out to get you. If every waking moment is a living hell. If you are currently taking blood pressure medication, or have just been released from a reputable mental institution, then you and me could become good friends. Stick around, and see what everyone has been talking about down at the local crack house.      Have any of you ever tried one of those get rich quick schemes that we're always hearing about?  By the way ladies, I'm not talking about marrying that millionaire you met who has a pacemaker, a portable oxygen tank, and that banana peal that always seems to be sticking to the bottom of his shoe. I looked up what a "get rich quick scheme" means, and it said; "It's a promise that participants can obtain a high rate of return with little risk, and with little effort or time." I've tried that before. It's called the lottery. Hey, guess what; it doesn't work! My wife who has a brilliant, but devious mind has come up with an idea to procure millions of dollars with little time and effort. She says that all we have to do is take out huge and multiple life insurance policies on me, and then wait. Hey, wait a minute. Something doesn't seem quite right here. I see two things wrong with my wife's brilliant yet flawed plan. The first is that in order to collect the prodigious and life changing sums I would have to be deceased. Secondly; and I know I'm not the sharpest pencil in the pack, but it seems that I'll find little enjoyment from those untold millions while I'm buried six feet under. "What do you think, Carlos?" Oh, I'm sorry. I haven't introduced you to Carlos. He's our new Latino pool boy. I swear he looks just like Enrique Iglesias. My wife and him have become very good friends as of late. The only problem is my pool doesn't seem too clean. I wonder what he's been doing with all his time?      I've tried a lot of get rich quick schemes over the years, but I haven't had much luck. Maybe when my good friend Bernie Madow gets out of prison I can give him some more money, and maybe this time my investments will do better.

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