In March, Global Tourism Consumption In The Luxury Goods Industry Fell By 14%

UTABrand according to data released on Friday by Global Blue, a global overseas travel tax rebate company, China's overseas tourists in March

Consumption has declined for the first time since 2010.

This has also made March one of the worst months for the luxury goods industry.

Data from global blue union show that Chinese luxury goods consumption in March dropped by 24% over the same period last year, with terrorist attacks in Paris and Brussels leading to Europe.

Tourism consumption decreased by 35% compared to the same period last year.

In addition, the price gap between luxury goods in China and Europe has decreased and the luxury consumption in mainland China has increased.

The global tourism consumption of luxury goods industry increased by 4% in February compared with 14% in March.

(three places in the United States, China, Hongkong and Dubai are not involved in the sales tax rebate system, so it is not included in the global blue Federation.

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Including French luxury brands Cartier and Louis Vuitton, etc.

In addition, more than half of the sales of many luxury brands in specific European countries come from tourist consumption.

Nearly 1/3 of the world's total sales of luxury goods come from Chinese consumers.

Barclays, an analyst at Barclays Bank, said: "considering the terrorist attacks and the introduction of biometric data policy when applying for Schengen visa, there is a sharp decline in the consumption of Chinese tourists in Europe.

However, overseas consumption of Chinese tourists has declined globally, which calls for great attention.

At the beginning of this week, luxury goods giant LVMH said that the number of tourists from Russia and Asia has declined after terrorist attacks in Paris and Brussels.

The Burberry, a luxury brand in the UK, said that profits could be affected in the coming year due to the downturn in the economic environment and the decline in tourist consumption.

"Tourism consumption in Hongkong and France continued to be weak, and LVMH's sales in the first quarter increased by 4%, lower than market expectations."

"European tourists' consumption has declined sharply, Hong Kong and Macao have continued to be weak, and sales in the second half of Burberry fiscal year 1% have fallen by 1%."

Data from the global blue Union also show that, in addition to the decline in the number of Chinese tourists, the consumption of Russian tourists fell by 22% over the same period last month, due to the decline in the ruble exchange rate and the economic downturn caused by the fall in oil prices.

UTABrand predicts that due to the decline in the number of tourists in the European market, the weakening of retail sales in Hongkong, the weakening of China's market demand and the weakness of the US market, the luxury goods industry will be at a low ebb. This downturn is a phased one, and every time the global economic downturn will have a huge impact on the luxury industry.