China accounts for 23% of spending on luxury goods in 2015. The number of wealthy people in China will double by 2020 and will account for 75% of growth in the luxury goods market in the country, according to the most recent statistics provided by the Boston Consulting Group. Between 2010 and 2020, this wealthy class of people (located between the middle-class and very rich households) will increase from 6% to 21% of the country's total population of around 1.34 billion people. China is expected to have around 280 million very wealthy people by 2020, a proportion that is higher than that in other emerging countries (Brazil, India, Russia) combined. From 2016, spending from this wealthy bracket of Chinese citizens will be above that made by the French; and by the Germans the following year. Based on these figures, it appears clear that China will be the number one market in luxury goods in 2015 and will account for 23% of total spending. (IL/trans/fl)