A Chinese magazine geared toward wealthy travelers is promoting the Newport (Calif.) Boat Show, running a full-page ad in its publication this month and flying some of the wealthiest people in Beijing to the April show.
That’s according to show owner Duncan McIntosh, who said members of Beijing Sunbelt Media paid him a visit last week at his California office.
“They had contacted the Newport visitors bureau, who in turn put them in touch with us,” McIntosh told Trade Only Today in an email. “They are promoting anything expensive to the wealthiest Chinese people in Beijing through their airport publication.”
The group gave McIntosh a copy of a magazine with the full-page advertisement — all in Chinese — for the 40th annual Newport Boat Show, which takes place April 18-21 at Lido Marina Village in Newport Beach, Calif.
“They’ll take and fly over maybe 20 or 30 of the wealthiest people in the Beijing area, so we jumped on it,” McIntosh told Trade Only in a phone interview Monday.
Beijing has more wealthy people than any other place in China, being home to more than 100,000 high-net-worth families, according to an article in China Daily.
Those findings were based on a 2012 China Wealth Report co-released by the Boston Consulting Group and China Construction Bank, which said there are more than 200 high-net-worth families out of every 10,000 families living in Beijing.
— Reagan Haynes