Paris and Europe in general are losing track as hot spots for buying luxury goods, as the crisis hits China’s middle class, and consumers move from luxury goods to lifestyle, tells business analyst Shaun Rein in WSJ. “Why buying expensive goods, if you cannot have clean water and air?”
While the top-end of luxury buying remains strong, the major shift +Shaun Rein sees in the middle-class, who bought most luxury goods anyway. In the first quarter luxury buying in Europe by Chinese only grew 18%, and numbers might be even more on the way down, as Chinese cut spending back in a slowing economy.
What do Chinese tourists want, asked the +China Weekly Hangout on April 14 Roy Graff of +ChinaContact. We discussed the increasingly diversifying market of Chinese tourists. And yes, there is no longer one answer for basic questions. Moderation by +Fons Tuinstra of the China Speakers Bureau.
Coming Thursday 25 July at the +China Weekly Hangout corruption and healthcare are on the agenda.You can read our announcement here, but when you also follow our Google+ page, you won’t miss any announcements.