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Reuters Published January 3, 2025 Reading time
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Trouble in China's shopping paradise as Hainan duty-free spending falls 29%

By
Reuters Published
January 3, 2025

Duty-free spending in China's island province of Hainan, where global luxury players from LVMH to Kering have set up shop, slumped 29.3% last year as a weak economy saw a sharp drop in domestic visitors.

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Shoppers visiting Hainan, known for its glitzy seafront hotels and sandy beaches, spent 30.94 billion yuan ($4.24 billion) on duty-free goods in 2024, local customs data showed on Thursday, falling 29.3% from a year earlier.

The number of shoppers visiting Hainan fell 15.9% to 5.683 million, the data showed, from 6.756 million in 2023.