Tourist Global Spending hurt again in april as Chinese cut budgets
Tourists are out there, but they're still not spending. That's the glum news from the latest Global Blue and Barclays research. In April, global tourist spending fell 12.8% year-on-year and by 15% in Europe. That follows on from March's 14.4% dip globally and a hefty 23% decline in Europe, the worst monthly result since Barclays' records began in 2010.
Within Europe, April tourist spending fell 23% in France; Germany dipped 20.3%; followed by the UK (-10.3%); Switzerland (-7.8%); Italy (-7.8%); and Spain (-6.8%). Russians also continued the decline with a 20.8% on-year spending fall in April. Meanwhile, tourist spending in the Asia-Pacific region was down 10.3%. Chinese consumers globally posted their second consecutive negative result six years with spending down 18.5% in April after declining 23.6% in March. Chinese spending in the Asia-Pacific region dipped 12.7% after falling 6% in March. In Europe, their spending was down 23.8% last month after sliding 35% in March.
"The recent crackdown measures put in place by the Chinese government are putting further pressure on Chinese consumer spending abroad, in addition to terrorist attack fears and biometric visa changes," said Barclays Research, which purchases and analyses monthly Global Blue spending figures.
"We believe the stricter measures, effective April 8, to reduce the level of gray parallel imports into China are having an effect on Chinese purchases abroad," it added.
