Decline in the market for luxury goods to China

Still under the spotlight the purchase of luxury items made by Chinese tourists in Switzerland. In fact, even in April they fell purchases, according to the latest statistics issued by Global Blue, a company that handles VAT refunds on the taxed products. On a year, sales actually declined by 7.8%, after a fall of 19.6% in March.

For Switzerland figures relate mainly to sales of watches, the most purchased items from travelers in transit. The phenomenon concerns however over Europe and France is the country most affected, with a drop of 23% in April after -29.3% in March. The main concerns are the concerns about China's growth, a certain frugality related to anti-corruption campaign and the beginning of April the new import tax.

In fact, the Chinese authorities, since early April, have imposed a new tax on luxury goods that Chinese tourists loved to bring in their luggage. A fact that adds to the list of negative factors weighing on sales of watches in Switzerland and worldwide. In fact, Chinese consumers had been particularly generous in recent years, becoming the largest group of buyers .