"Everybody wants rich Chinese Tourist"

mardi 4 novembre 2014

World wide tourists VS Chinese Tourists

Despite a crackdown on graft in China, the conflict between Russia and the West on the sick-man economy of Ukraine and Europe, the global luxury spending is still on track to increase 5% in 2014, according to a report released Tuesday by the consulting firm Bain & Co. Bain, whose projections are closely monitored by the luxury industry, also stuck to its forecast that the global luxury goods sales will increase 4% and 6% per year between 2014 and 2017. So with all the madness going on in the world right now, which gives a boost of luxury necessary?

IN USA , People do not understand Chinese travellers ! 

The good old US of A., who became a great destination for wealthy Chinese travelers (now that obtaining a visa is easier), and where Generation Y develop a taste for luxury as they progress in their careers and start making more money, said Claudia Arpizio, a Bain partner in Milan and head of global business practice of Luxury goods and fashion. "The United States as a tourist destination increasingly important for Chinese travelers," said D'Arpizio Fortune. Chinese citizens spend three times more luxury abroad than in their own country. US consumer confidence peaked 14 months in September, and upscale stores has been on a tear this year.

The stock market fell in the last week, casting a shadow over consumer spending, but the downturn will last for some time shooting luxury  said Mark. "We see consumer confidence is the most important factor." The slight increase in the United States comes at an opportune time for companies to global luxury. In July, the French luxury group LVMH reported disappointing first-half results for 2012 while rival Kering, whose brands include Gucci, spoke of an "unstable business environment." Meanwhile, L'Oréal said the US would rebound results for the second half. Bain, who conducted the study with Italian industry group Altagamma luxury, said the global luxury market is on track to reach € 223 billion ($ 283 bilion) in 2014, representing a bump 5 % this year, slower than the 7% in the last years pace. And probably clouds in the sky luxury: Chinese sales were hurt by a crackdown by the government against corruption and conspicuous consumption. And sales of Russian luxury poorly down by a drop in tourism in the countries of Eastern Europe.


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