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Retailers and catering businesses were the main beneficiaries of the 1.2 trillion yuan (US$180 billion) Golden Week spending spree by Chinese consumers. This was 10.7 per cent up on last year’s figure, according to Ministry of Commerce (MOC) data, with the…
Macau’s move to reposition itself from gaming hub to shopping and entertainment destination appears to be paying off already. Tourist numbers rose in Macau over Golden Week as an expanding shopping offer and shows drew 8.45 per cent more visitors than the…
Come 30 September, Singapore Retailers Association (SRA) will launch Singapore Golden Week (SGW) 2016 – a brand new lifestyle event to be held over three weekends from 30 September to 16 October, with global payment network UnionPay as the Official Card. With…
While more tourists have been crossing the border for the ongoing Golden Week, there has not been much gold in it for Hong Kong retailers. Visitor numbers jumped more than 14.1 per cent on Saturday, the start of the holiday, according to the Hong Kong…
Japanese and South Korean retailers are smiling… but these scenes are enough to make a Hong Kong retailer weep: Watch how Chinese shop over Golden Week… in Tokyo, Seoul or Boston… Not in Hong Kong, their traditional destination. Chinese tourists, famous for…
Beijing has reported a rise in retail sales during the week-long National Day holiday that began last Thursday. Chinese government news agency Xinhua reports both locals and tourists have “spent heavily” on consumer goods. During the first six days of…
It was a lukewarm Golden Week for the Hong Kong Special Administrative Region as the number of visitors to the city remained stagnant at levels seen during the same period a year earlier. Confounding the SAR’s woes were reports from several leading retailers…
As Chinese tourists head across the globe for Golden Week this week, luxury retailers are worried that an ailing stock market and devalued yuan will lead to muted growth compared to holiday seasons of the past. But according to newly released figures,…
Gold prices in India continued to trade at a discount for a fourth straight week, while premiums in China fell before it went on a week-long national holiday, in signs of sluggish demand in top consuming region Asia. Persistent weakness in India and China,…
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