The economic woes in China have been a huge source of conversation here on PurseBop. Today, we investigated how the shift in Chinese luxury spending has caused turmoil for Burberry. What are your thoughts on the latest financial happenings in China? Please share opinions, stories, or personal experience in the comments below!
other financial articles to give you more background:
- China Woes Weigh Heavy on Luxury Market
- Hermes Still Confident Despite Chinese Economic Downturn
- Why Western Retailers Should Still Be Looking East
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well, i am chinese myself from Macau, similar to HK, Macau is a special adminstrative region, which means we have different laws and policies from China. We have a recently drop of tourists in Macau as well. I think the first thing is because China has restriction on the number of times the mainland chinese can come in to HK and Macau. Second thing is that HK citizen has finally shown their anger towards the mainland chinese and made some of them stopped going to Hong Kong. They are turning to Japan and Europe is due to the currency. For example, before it was 1 euro : 10 hkd, now it’s 1 euro : 8hkd and plus tax free, we are saving a lot if we buy branded items in europe. same goes to japanese yen. it was 1000 yen : 10hkd but it’s now 1000 yen : 6.5hkd. that is why most of the mainland chinese go to japan and europe so much nowadays. I hope it helps
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