Well, the world has turned around and East has travelled to the West! How else can one explain the fact that Chinese tourists are topping France’s list of big spenders for two consecutive years? Global Blue has come up with this astounding report after going through the latest trends of tourists shopping in France. According to their report tourist spending has gone up by 35 percent France despite economic turmoil, which is rise of some 3 million euros, out of this Chinese tourists have spent 650 million. Interesting and intriguing, isn’t it?
For past few months we have been reading news reports about luxury fashion names and brands opening stores in China, now we know why this is so. Brands will flock to markets where people have money to buy. Apparently, 57.39 million Chinese travelled out of country last year and they top the list of big spenders in England too. If Chinese can afford to fly overseas to France, England and spend on an average some 1,300 euros every time they shop, imagine how much would they spend if luxury brands popular with Chinese (Louis Vuitton, Givenchy and Dior) opened stores in China?
Guess which other countries figure in the list of big spenders? According to Global Blue, after Chinese, Russians are second on the list followed by Brazil. It is an amazing finding one must say, rich from communist and socialist countries are travelling to Europe for shopping and splurging. No wonder, China’s iron wall is becoming porous and it is opening doors to big brands of the West. Well, as long as money circulates, economies survive, this trend is most welcome!
Via Shanghai Daily