What: A new report showed that Chinese high-spenders are ready to start traveling again after the border reopening in January.

Why it is important: 92% of survey respondents expressed interest in taking an international trip in 2023, with Europe ranking the highest among travelers.

The report noted that two thirds of the money the Chinese spent on luxury goods was done on trips abroad pre-pandemic.

According to Global Blue data, mainland Chinese shoppers were the leading nationality for tax-free shoppers in 2019, accounting for 4.25 million shoppers and spending an average of EUR 1,600 per shopper.

Chinese consumers are looking for newness and to reconnect with destinations, retailers, and brands with plans to spend as much or more as they did pre-COVID, leading to a significant opportunity for retailers to capitalize on the demand.

Chinese luxury consumers eye international travel in 2023, says Global Blue