At least that's what London's luxury retailers must be thinking.
Harvey Nichols Department Store London. Image via Harvey Nichols
According to a report published in Red Luxury many retailers were very worried about Christmas sales this year but London stores such as Harvey Nichols, Harrods and Selfridges have reported boosts in sales which they attribute to Chinese tourists.
Harvey Nichols reported post tax annual profits at the London store up 32% compared to last year's figures, whilst Burberry's CEO Angela Ahrendts was reported as saying by the Financial Times and the Telegraph that:
“When Chinese consumers travel, they spend six times more than when they stay at home. Saying ‘I bought this in London’ adds further cachet.”
On a slightly negative note for London, despite a significant increase of Chinese visitors to the city, according to Global Blue Paris is still the number one holiday destination for Chinese travellers, while London comes in second.