Buying Luxury Goods Abroad Leads To An Increase In Trade In Services.

< p > here, the world's < a target= "_blank" href= "http://www.91se91.com/" > clothing < /a > a target= "_blank" href= "_blank".

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< p > experts say that the Chinese people buy 47% of the world's luxury goods, resulting in an increase in the trade deficit.

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Li Hong, who works for a foreign trade company in Beijing, is going to Dubai on business this time. She decided to reward herself for buying a Rolex watch on the trip. After all, she bought high-end watches abroad, duty-free! < /p > p

When p arrived in Dubai, she went straight to the mall.

After more than an hour of repeated selection and bargaining, she took out her bank card and brushed up 50 thousand yuan.

This golden Rolex watch, which she loved for a long time, was finally returned to the bag.

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< p > a lot of Westerners, the first impression of Chinese people is Shopaholic! Liu Qiudi said that many senior designers of New York's famous brand jewellery and famous brand bags often tell him privately that "after the financial crisis, if they are not supported by Chinese tourists, their performance will be miserable. Some luxury stores earn more than 50% of their sales from Chinese tourists!" < /p >

< p > this is not an exaggeration.

According to the statistics of the Institute of wealth and quality, the global luxury market in 2013 is under a lot of pressure, but the global luxury market still achieves a record volume of 217 billion US dollars, with a year-round growth rate of 11%. Among them, the Chinese have bought 47% of the world's luxury goods.

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< p > however, behind the popularity of the outbound travel of the Chinese people, there are hidden worries about the long run deficit of China's service trade caused by outbound travel expenses.

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< p > < strong > China outbound tourism expenditure is the highest in the world < /strong > < /p >

< p > < a href= > http://www.91se91.com/news/index_s.asp > shopping > /a > has become the custom of Chinese people.

According to the data of the world tourism organization, China has outbound tourism in nearly 100 million people in 2013, becoming the world's largest outbound tourist market.

At the same time, China also spent $102 billion on overseas tourism and surpassed the United States and Germany at one stroke, becoming the number one in the world.

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Less than P, and 10 years ago, China's share of outbound travel in the world was only 1%.

The World Tourism Organization predicts that this figure will increase to 20% by 2023, which means that in the next 10 years, the number of outbound tourists in China will probably double.

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< p > data from other sources also reveal the status quo of China's outbound tourism.

In 2013, the international hotel reservation website Hotels.com conducted a survey of 3000 Chinese tourists and 1500 hotels.

The survey shows that with the rapid growth of China's middle class, outbound travel is no longer the exclusive possession of the rich, and the number of Chinese middle class tourists is increasing.

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The number of outbound tourists and purchasing power in China both ranks first in the world. The number of tourists in the middle class continues to increase, which is a good news for P. At least, it shows that the Chinese people have become prosperous since then.

However, the number of beautiful outbound travel has aroused concern among the industry.

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< p > < strong > outbound purchase of luxury goods < /strong > /p >

< p > < strong > lead to an increase in the deficit in service trade < /strong > /p >

The statistics of the Ministry of Commerce (P) show that China's service trade has been in a continuous deficit for 19 years from 1995 to 2013, and the scale of the deficit has been expanding.

In 2013, the total import and export of service trade was 539 billion 640 million dollars, only about half of the United States, and the counter balance of service trade reached 118 billion 460 million US dollars.

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< p > tourism is the leading industry of service industry.

Huo Jianguo, President of the international trade and Economic Cooperation Research Institute of the Ministry of Commerce, said that most of the deficit in China's service trade was caused by "outbound tourism".

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< p > the data released by the world tourism organization show that China's overseas tourism consumption in 2013 was 102 billion US dollars, while in 2013, China's trade in services amounted to 118 billion 460 million US dollars, and two figures were equal.

Long Guoqiang, a member of the State Council Development Research Center, also expressed concern about China Economic Weekly. "International tourism is the traditional service industry and the source of foreign exchange earning that China has the advantage. In the past 10 years, there has been a great reversal.

Now that Chinese are spending money desperately, international tourism is already in deficit, and the deficit is growing fast.

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Outbound purchases of luxury goods (P) are one of the reasons for the increase in trade in services.

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The annual survey released by P, a well-known online travel platform Travelzoo tourism group, found that China, Hongkong, Europe, the United States and South Korea are the 4 main regions for tourists to buy luxury goods in China.

In 2013, the number of Chinese tourists who bought luxury goods in Hongkong and Europe accounted for 64.6% and 46% respectively, 33.4% in the United States and 19.3% in Korea.

In comparison, only 12% of luxuries were purchased in China.

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< p > the reason why Chinese middle class tourists prefer to travel abroad for shopping purpose is largely due to the huge difference between luxury goods at home and abroad.

Insiders pointed out that the high price of luxury goods in China is the leading strategy for the pricing strategy of luxury brands.

At present, the pricing power of most luxury goods in China is in the hands of foreign investors.

The high or low price of luxury goods depends more on the profits of brand dealers and agents, as well as rental, advertising and logistics costs. These costs will no doubt be borne by consumers.

China's price in these areas is often higher than that in developed countries.

In the face of huge price differentials, buying luxury goods abroad can save a lot of cash. Those who have luxury consumption demand will naturally choose to shop abroad.

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< p > in addition, China's poor consumption environment, low efficiency of domestic commodity circulation, high cost and rampant fakes are also important reasons for Chinese people to go shopping abroad.

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"P", "Guo Qiang" told the China Economic Weekly that the international market is cheaper than the domestic market because of the same quality and same brand clothes. This is precisely because people have no money to buy these luxuries abroad.

"Do you think the Chinese tycoons go out to buy these? They buy jewellery, high-end watches, they don't buy suits and pants, and he doesn't care about the difference, and the ordinary people are coming back abroad to carry a big bag because of low income."

Long Guoqiang said.

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< p > < strong > improving domestic tourism environment and shopping environment < /strong > /p >

< p > when Chinese scholars are worried about the unfavorable balance of service trade caused by outbound travel, Japan is smiling because of the "favorable balance of tourism".

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According to the current account data released by the Ministry of finance of Japan (P), the total consumption of foreign tourists in April this year was 17 billion 700 million yen (US $172 million) more than Japanese residents' overseas tourism consumption, which set the highest historical record of surplus. It is the first time that Japan has achieved "favorable balance of tourism" since July 1970.

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< p > Japan has achieved its first "tourism surplus" in nearly 44 years, and Asia is its main source of tourists.

According to the data released by the Ministry of finance, the number of tourists from Thailand in February this year has nearly doubled. The number of tourists from India, Philippines and Vietnam increased by 50% to 60% over the same period last year.

Despite the tense political relations between China and Japan, the number of tourists from China has soared by 140%.

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< p > tourism supports Japan's economic rebound. Where should China go? Ministry of Commerce, international trade and Economic Cooperation Research Institute, Huo Jian Guo, recommended by China Economic Weekly: "strengthen the soft environment construction of domestic service trade, further expand the opening up, and introduce some competitive cooperation.

In particular, we should strengthen the development of some services trade areas such as inbound tourism and overseas projects, so that these surplus areas will be changed from the current deficit to surplus.

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"P", "long Guo Qiang" has also provided a good solution to solve the deficit of China's a href= "http://www.91se91.com/news/index_c.asp" > trade < /a >. He suggested: "China should strive to improve the domestic tourism environment and shopping environment, and attract more international tourists to China to consume, so that we can contribute to the development of China's service trade, and at the same time we can increase national welfare."

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