Beijing, the political and cultural capital of China, is also one of the most populated cities in China. As of early 2012, the total population of Beijing has been estimated to be close to 24 million (urban and rural population combined).
In 2011, the urban GDP per capita of Beijing stands at RMB¥80,394, with urban disposable income per capita sitting at RMB¥32,903, ranking Beijing as one of top three cities in the nation for both indicators.(1) Beijing has seen favorable retail sales growth of 15.3% since 2011 for the first quarter of 2012 as a year on year comparison.(2) Also, Beijing comes in as a close second in terms of luxury market share in China right after Shanghai, which has a 18.3% market share, while Beijing covers 16.2% of the luxury market in China.(3)
According to McKinsey, China is set to be the world's biggest luxury market by 2015. It is currently the home to flagship stores of Burberry, Dior, Gucci, Hermes, Tiffany& Co, Alexander McQueen, Marni and many more.