China's Tax-Free Shopping Drops 24 Percent In March 2016

In China, tax-free shopping declined 24 percent year on year in March 2016, after growing 58 percent in 2015, according to market research firm Global Blue. Details from the company’s Globe Shopper Report: China Edition revealed the country remains the number 1 Globe Shopper market, accounting for a third of global tax-free shopping sales. Data also revealed May and October are the busiest months for travel among regular Chinese travelers. Following the 3-percent weakening of the yuan against the euro, tax-free shopping sales are expected to be only slightly affected; however, 46 percent of travelers said they would reconsider their destination, while 47 percent will reduce their shopping budget.