default-output-block.skip-main
BoF Logo

The Business of Fashion

Agenda-setting intelligence, analysis and advice for the global fashion community.

The China Edit | Chinese Tourist Spending Falls, Alibaba Hits Australia

This week, why the average Chinese tourist is spending less abroad, while the Alibaba Group expands into Australia and New Zealand.
Group of Chinese tourists arriving at Hallstatt, Austria by boat | Source: Shutterstock
By
  • Edwin Jiang

"Average Chinese Tourist Spending is Declining, But It's Not All Bad News" (Jing Daily)
"Whereas Hong Kong has seen both average spending and the number of tourists from China decline, most destinations continue seeing their Chinese arrivals surge amid declining average spending."

"Alibaba Expands Presence in Australia, New Zealand" (Reuters)
"Chinese online retailer Alibaba Group opened its Australian and New Zealand headquarters in Melbourne on Saturday, its first expansion in the region."

"China's Central Bank Starts Year of the Rooster with 'Groundbreaking' Broad Rise in Money Market Rates" (South China Morning Post)
"Move sends clear signal that Beijing is tightening its monetary policy in the face of pressures that are threatening to weaken the yuan."

"Alibaba Said to Lead $200 Million Funding for Paytm's E-Commerce Unit" (Bloomberg)
"A valuation of over $1.1 billion makes the spinoff India's newest unicorn, and its founder and chief executive officer Vijay Shekhar Sharma a unicorn-founder twice over."

"How Chinese Mobile Payments Are Quietly Conquering the World" (Jing Daily)
"What was once a strictly domestic affair has expanded abroad, with China's mobile payment providers now battling for Chinese tourists' mobile payments on the global stage."

© 2022 The Business of Fashion. All rights reserved. For more information read our Terms & Conditions

More from China
Go inside the opaque giant that accounts for one-third of global luxury sales.

Mainland shoppers have flocked to local tourism hubs like Macau and Hainan over Chinese New Year and are expected to visit Asian destinations like Thailand and Singapore before returning in droves to European fashion capitals later this year.


Beijing’s Covid-19 policy shift will give the sector a boost in 2023 but a surge in infections and sluggish economic growth could dampen the recovery after an uplift from Chinese New Year.




view more

The Business of Fashion

Agenda-setting intelligence, analysis and advice for the global fashion community.
CONNECT WITH US ON
How to Build a Profitable DTC Brand
© 2023 The Business of Fashion. All rights reserved. For more information read our Terms & Conditions and Privacy policy.
How to Build a Profitable DTC Brand