A leading Chinese-language financial newspaper has reported that the value of the market represented by the LGBT community in China is estimated at US$300 billion.
That figure was given by the Commercial Times when it recently reported on the purchasing power of the LGBT Chinese consumers.
China is one of the fastest growing economies in the world as well as the world's second largest economy by nominal GDP.
According to San Francisco based company Community Marketing Inc the disposable income of the LGBT community is five times higher than the straight population. Last August it reported that 23 percent of gay or bisexual men and 34 percent of lesbian or bisexual women had gone on a vacation of five nights or more in the past twelve months, which it says is higher than the national average.
A report by the Hong Kong-based LGBT Capital says China is likely to have an LGBT population of at least 65 million people. But this is seen as a very conservative figure because same-sex relations was only in the early 2000s removed from China’s list of mental illnesses and the deeply held Chinese belief that children are required to marry and bear offspring to continue the family line makes it still heavily stigmatized forcing suppression of gay relationships in men and women.
This is one of the reasons why locally engineered social networking apps and LGBT community targeted online outlets have become increasingly popular.
“Gay and lesbian consumers are a force to be reckoned with, and we rely heavily on mobile and Internet usage, at rates twice that of the general market,” Geng Le, CEO of Dan Lan, a gay social app with 8 million users.
Last year, a survey exploring the purchasing power, preferences and motivations of China’s LGBT community estimated China’s “pink market” value to be around US$470 billion per year.