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Gloom for retailers as Chinese tourists spend less on shopping

Global Markets

Gloom for retailers as Chinese tourists spend less on shopping

Bloomberg Published on Tue, Jul 11, 2017 / 7:18 AM GMT+8

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SHANGHAI (July 11): They’re still coming in droves -- but no longer buying in spades.

After propping up sales for overseas retailers over the past decade with a shopping-driven tourism agenda, Chinese visitors are no longer returning home with suitcases bulging like before.

A new survey by consultancy Oliver Wyman shows Chinese tourist numbers and holiday expenditure continuing to rise last year, even as shopping during overseas travel dropped 17% from a year earlier.