High-spending consumers drive growth, while lighter spenders cut back, according to Boston Consulting Group report.
Chinese tourists increasingly favor lesser-known, personalized travel destinations both domestically and internationally.
China’s decision to delay anti-dumping tariffs on EU brandy imports could signal a broader easing of trade tensions, potentially benefiting European luxury brands.
In 2023, China’s travel sector grew 135.8%, adding $1.3 trillion to its GDP and positioning it to potentially surpass the U.S.
Daily news from our China desk
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Mac taps Jolin Tsai as global ambassador
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Crocs posts 70% revenue surge in China
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Bally showcases Fall/Winter collection in Beijing
Li Auto smashes delivery record with 51,000 cars in July
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