For the better part of a decade, wealthy Chinese tourists have been on a feeding frenzy for luxury brands, casinos and cruise lines. Now there are doubts about how long the buffet will last. From Tokyo's glitzy Ginza shopping district to Hong Kong, Macau and New York's Fifth Avenue, there are noticeable cracks in what has been the very bankable strategy of catering to throngs of newly affluent Chinese travelling the world. Explanations vary from China's slowing economy to the government's push to spur spending at home and fluctuations in currency values. Whatever the reason, the result is increasing worry across the globe. "Luxury brands have gained a lot of traction and growth out of China, but the bloom is off the rose," said Pam Danziger, president of Unity Marketing, which researches affluent shoppers. "You can't blame them because that's where the easy money was." Over the past few months, executives have been hounded by questions about high-end Chinese shoppers, who Bain & Co ...

BL Premium

This article is reserved for our subscribers.

A subscription helps you enjoy the best of our business content every day along with benefits such as exclusive Financial Times articles, Morningstar financial data, and digital access to the Sunday Times and Times Select.

Already subscribed? Simply sign in below.



Questions or problems? Email helpdesk@businesslive.co.za or call 0860 52 52 00.