Proof of China's growing luxury demand
22/01/2010
Figures on tax reclaims from tourists visiting France support the argument that the biggest growth-market for luxury goods, including high-end footwear, is among Chinese consumers.
A report from Global Refund, a company that provides tax refund services, said tourists from China are now spending more in French boutiques than visitors from Russia. It also showed that Chinese consumers prefer to spend their money on fashion goods and accessories, than on jewellery or perfume.
Visitors from China accounted for 15% of overall spending by tourists in France in 2009, spending a total of EUR 155 million. This represents a 47% increase on 2008. Visitors from Russia were in second place, with a spend of EUR 112 million and those from Japan were third with EUR 99 million.
The Global Refund study showed that 87% of the money Chinese tourists spent went on fashion items, including high-end leather handbags and shoes; they carried out 93% of their shopping in the Paris region.
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