SHANGHAI — Based on a recent report from Barclays, a healthy luxury consumption rebound within the Middle East might be partly fueled over the approaching months by China‘s reopening.
“We expect Chinese tourists to supply a lift to Middle East luxury sales over the subsequent six to 12 months, which ought to be visible from the second quarter onward,” Barclays wrote within the report.
“We estimate that Chinese tourism contributed around 10 to fifteen percent of luxury sales in Dubai pre-pandemic,” the report continued. “Taking a look at flight data, it is evident that travel from mainland China toward Dubai is recovering at a much faster pace than toward Europe since year-to-date, because of higher flight capability and targeted marketing campaigns from...
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