Chinese billionaires prefer yachts to private jets

June 19, 2014 1:26 pm

By Florence Pilkington

Chinese billionaires opt to buy yachts over private jets, reveals the Billionaires Study.

Conducted by Ledbury Research and commissioned by Airbus Corporate Jets, it examines the needs and preferences of billionaires in Russia, the Middle East and China, when it comes to buying private jets and yachts.

As Chinese travel regulations begin to ease, the importance of the private jet market is expected to rise, the study states, adding that when they purchase a jet, they do not focus on showing off, because jets are seen as ‘by-invitation only’ vehicles. However, Middle Eastern billionaires are most likely to have status in mind.

In the Middle East, when billionaires charter private jets, there is a greater chance they will become more impulsive with their travel plans.

In both the Middle East and Russia, yachts are seen as vehicles of leisure.

While, in China, yachts have more inside facilities, such as specific rooms to accommodate indoor activities, such as karaoke, or spaces for business meetings.