MORE GLOBAL BLUES: Tourists are continuing to tighten their purse strings when traveling, according to the latest downbeat figures from Global Blue and Barclays Research for the month of April.
Global spend by tourists fell 12.8 percent globally and 15 percent in Europe. Those declines came after a sour March that saw declines of 14.4 percent globally and 23 percent in Europe, the worst monthly result since Barclays’ records began in 2010.
The Asia-Pacific region deteriorated a further 10.3 percent, from 1.1 percent last month, while Chinese consumers globally posted their second consecutive negative result since 2010. Their spend fell 18.5 percent in April after a decline of 23.6 percent in March, while Russians continued their decline at 20.8 percent in April.
Chinese spending in the Asia-Pacific region declined 12.7 percent after a negative 6 percent in March. In Europe, the Chinese spend was down 23.8 percent in April year-on-year after a negative 35 percent in March.
“In our view, the recent crackdown measures put in place by the Chinese government are putting further pressure on Chinese consumer spending abroad, in addition to terrorist attack fears and biometric visa changes,” said the statement from Barclays Research, which purchases and analyzes the Global Blue figures each month.
“We believe the stricter measures effective April 8th to reduce the level of gray parallel imports into China are having an effect on Chinese purchases abroad,” the bank said.
Barclays added that within Europe all reporting countries posted a further decline for April. France saw a fall of 23 percent; Germany, 20.3 percent; Switzerland, 7.8 percent; the U.K., 10.3 percent; Italy, 7.8 percent, and Spain, 6.8 percent.