Recession? What recession? Luxury goods in Spain appear to by flying off the shelves despite the country’s economic woes, and it is all down to tourists.
Apparently the high end of the retail sector grew 25 per cent this year and analysts say it due to visitors from abroad mainly Russian and Chinese.
Luxury shop-owner, Luis Sans: “There are a great number of Russian people who have holiday homes here and they’ve become our regular clients. In contrast it’s very unusual to see a Chinese customer twice. However, they tell each other back home so that when they come they know exactly where to go.”
According to experts Chinese tourists are buying 20 per cent of all luxury goods worldwide.
With their own economy booming creating a generation of rich travellers the knock on effect abroad means 2012 is tipped as being luxurious for some.