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LONDON'S HIGH STREET STORES TO EXPECT BOOM DURING CHINESE NEW YEAR

LONDON'S HIGH STREET STORES TO EXPECT BOOM DURING CHINESE NEW YEAR

about 6 years ago

Money Shower Gold Uk Pound Signs 1412766696 Article 0

Chinese visitors to the UK are expected to spend more than £11m in London alone over this week as the New Year celebrations continue following a report from Wordplay. The attraction of the weaker pound in addition to the Chinese holiday presents London as an attractive destination for the tourists, with luxury boutiques and department expected to benefit from the influx of customers greatly. Payment from Chinese cards is expected to be 40% higher than the average for this time of the year.

It follows reports from Worldpay earlier this year that spending by Chinese visitors had increased by 24% year-on-year, as bargain hunting tourists looked to capitalise in the fall in value of the pound following Brexit.