Home News Chinese are still Europe’s biggest spenders

Chinese are still Europe’s biggest spenders

0
SHARE

Findings come despite recent downturn in China’s economy
Despite the recent downturn in China’s economy, the Chinese are expected to remain the biggest spenders among all international visitors. This at least is the case in Spain, according to shopping tax refund company Global Blue.
“Even if the economic deceleration currently affecting the Asian giant leads [the Chinese] to ease off with their spending, the average spend of a Chinese tourist will still be around €1,000 euros, so we can affirm they will continue to be the most profitable tourists,” said Luis Llorca, country manager for Spain at Global Blue.
Chinese tourists increased their spending on luxury goods – mainly jewellery and watches – in Spain by 90% for the year ending in August.
This was almost matched by an 84% rise in spending by tourists from Argentina, followed by the North American market of the US and Canada at 58%. The Russian market, however, fell 25% due to the devaluation of the rouble and the country’s economic woes.
The report, which covers non-EU visitors who reclaim value-added tax on purchases, shows Barcelona as the most popular Spanish city for shopping with a 47% share, followed by Madrid in second place with 38%. These two cities also feature in Global Blue’s top five European cities for Chinese tourists for shopping.
TTG Asia

LEAVE A REPLY

Please enter your comment!
Please enter your name here