BNP Paribas, group chief economist, William de Vijlder, draws a distinction between the super-wealthy, and other Chinese tourists in Paris. He said that although the latter will be more impacted by stock market declines in China, “at this level it won’t make a dent in their spending patterns.”
de Vijlder added that once “people decide to travel they have already looked at the numbers, they don’t then pause in front of a luxury shop considering which purse to buy, or not to buy.”
Paris has rolled out the red carpet for its shopaholic visitors. The city as a whole has stepped up the charm offensive with hotel discounts; shopping experiences; Mandarin-language mobile phone applications and luxury products catered to Asian tastes from skin whitening creams to limited edition handbags and Cognac, some specifically launched during Chinese New Year.
To improve communication with Chinese tourists, the tourist board has recently published a booklet called Do you speak tourist for taxi drivers, hotels and restaurants with advice on how to be more welcoming.