Free Report Download: Coronavirus Briefing China’s Outbound Tourism Will Be Hurt but Possibly Not for Long
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In collaboration with China Luxury Advisors, we look at how the coronavirus outbreak is affecting Chinese outbound travelers and airport retail around the world ⎯ and we offer suggestions for how travel-impacted firms could cope with the disruption.
- The coronavirus outbreak is set to impact the tourism industry of a number of international popular destinations among Chinese travelers.
- Assuming there will be no further travel bans, we expect to see the total number of Chinese outbound travelers to drop by 55-60% in the first quarter of 2020.
- Sales at some airport and duty-fee shops plunged during Chinese New Year public holiday around the world; some duty-free shops are taking actions, such as temporarily shut down stores, to prevent coronavirus from spreading.
- We suggest that tourism-focused brands take several steps during this period of coronavirus disruption; temporarily pause media campaigns; begin to develop a refreshed strategy, in preparation for relaunching promotions; invest in bigger picture creative assets; engage Chinese consumers that are living overseas; and develop tech-driven engagement techniques.
In our Coronavirus Briefing series, we outline the possible impacts of the coronavirus outbreak on economies, sectors and businesses. In this report, we collaborate with China Luxury Advisors to look at how the outbreak will impact China's outbound tourism and sales at airport and duty-free stores. We suggest short-term actions that impacted businesses should consider taking during this disruption.
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