Category: Travel/Leisure

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New CLA Report: Chinese Tourist Spending to Double by 2020

September 28, 2015/1/0/

The world’s top tourism spenders since 2012, Chinese travelers are poised to become even more valuable for retailers, hoteliers, and travel destinations worldwide. According to a new report by China Luxury Advisors and the Fung Business Intelligence Centre (FBIC), total overseas spending by Chinese tourists, which is expected to increase 23 percent this year to […]

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More Cities Benefit as Chinese Tourists Flock to US “Gateways”

September 21, 2015/0/0/

Announced last November, the U.S. government’s decision to grant 10-year tourist visas to Chinese citizens was widely expected to boost inbound Chinese arrivals, particularly in major “gateway” cities like Los Angeles, New York, and San Francisco — and it has. The Los Angeles Tourism and Convention Board reported a 20 percent increase in visitation from […]

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On the Road Again: China’s Burgeoning “Staycation” Boom

September 14, 2015/0/0/

Affluent Chinese tourists may attract headlines and hand-wringing for their lavish spending, exponentially growing numbers, and bad behavior, but less over-the-top are the millions who stay at home and explore their own country. In recent years, Beijing has invested heavily in efforts to double domestic spending on tourism by 2020, with a goal of throwing some 5.5 […]

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Are Luxury Groups Positioned to Weather China’s Economic Storm?

August 24, 2015/0/0/

One thing that often gets lost in the mix of articles asking “Is Luxury Dead in China?” is the fact that the world’s largest luxury conglomerates have quietly been working to buffer themselves against the fluctuations of the Chinese domestic luxury market while making sure to benefit greatly from the rise of the outbound Chinese […]

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What Does China’s Currency Devaluation Really Mean for Luxury?

August 17, 2015/0/0/

Last week was a tumultuous one for international markets and the luxury industry. China’s unexpected announcement of a “one-off” devaluation of the Renminbi (RMB) — which actually happened twice — stunned markets, with shares falling across the globe. However, it was arguably those in the luxury sector that were hit the hardest, with firms such as LVMH […]

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