Unless you were living under a large rock, you’ve probably heard that Britain has voted to leave the EU. The shocking outcome of #Brexit sent global markets in a downward spiral and caused the British pound to plunge to its lowest level since 1985. But while people around the world are reeling from Brexit’s aftermath, Chinese tourists are making the most out of a bad situation by booking travel deals to Britain in droves.
According to Shanghai Daily, travel companies in Shanghai saw a strong surge in bookings after the outcome of the referendum was determined.
Shanghai Spring Tour reported that almost all of their tour packages to the UK had sold out for the summer. Online travel operator Ctrip also said that there was a noticeable jump in clicks on its website for tours to UK.
Ctrip said the new two-year multiple entry visa policy implemented by Britain has also helped attract Chinese travelers.
In recent years, a large number of Chinese tourists have vacationed abroad. They are not only interested in the exotic cultures of the foreign destinations, but also the opportunity to snatch up luxury goods at lower prices than what’s available to them back home (you know who you are).
Chinese tourists know how to make it rain.
Last year China’s tourists spent almost 1.2 trillion yuan ($183 billion) shopping abroad, buying up nearly half of the world’s luxury goods. The sharp fall in the value of the pound can lead to some major savings – as much as a 10 percent discount!
Brexit can put the breaks on Japanese tourism.
As investors sell the pound and buy up the Japanese yen, the rising cost of traveling to Japan may cause Japanese tourism to suffer, as travelers look for better deals elsewhere – such as Britain with its recently devalued pound.
“I was thinking of a holiday destination because my 13-year-old daughter will have her summer vacation soon. I had almost decided on Japan but now I think Britain may be a good idea because it may be cheaper,” said Cherry Xiao, a white collar worker from Shanghai.
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