About 163 million Chinese tourists made overseas trips in 2018 – more people than Russia’s population – accounting for more than 30% of travel retail sales worldwide. In 2003 when SARS broke out, only 20 million Chinese travelers went abroad. China’s increased affluence and consumption since SARS have made many international cities, luxury brands and retail industry groups more reliant than ever on Chinese travelers.
(Jan 31): Hotels, luxury shops and attractions around the world that came to rely on a flood of Chinese tourists are facing an even bigger crisis than during the SARS outbreak as the new viral outbreak infects more people than the 2003 pandemic.
From Tokyo to London, hotels, casinos, airlines and retailers are already recording a downturn and are bracing for weeks, if not months, of plummeting spending after China curbed outbound travel and governments tightened border controls.
