Date
18 December 2017

Easier visas to drive up Chinese spending in London, paper says

Chinese shoppers could more than double their annual spending in London to nearly £500 million (US$829 million) by 2020 as they take advantage of a simpler visa process, Shanghai Daily reported, citing international real estate advisor Savills. Spending by Chinese shoppers in London may rise by 141 percent over the next six years, the report said. Savills China research head James Macdonald was quoted as saying the yuan’s strength, the lower cost of goods overseas, more overseas travel and a broader product range will drive Chinese shopping in overseas markets.

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