Trouble in China’s shopping paradise as Hainan duty-free spending tumbles By Reuters
BEIJING (Reuters) -Duty-free spending slumped 29.3% last year in China’s island province of Hainan, where global luxury players from LVMH to Kering (EPA:) have set up shop, as a weak economy led to a sharp drop in numbers of domestic visitors. Shoppers visiting Hainan, known for its glitzy seafront hotels and sandy beaches, spent 30.94 … Read more