[original title] Chinese tourists to the United States shrink, turn their faces and don't recognize people. They really don't dare to go. - source: headline recommendation - editor: Wang Qi
The damage to the US economy caused by the US escalation of economic and trade frictions with China continues to appear. The latest data show that the relevant negative impact has also affected the U.S. tourism industry. According to Xinhua News Agency on August 17, Minneapolis is the largest city in Minnesota in the Midwest of the United States. The state is also known as the "state of ten thousand lakes". There are many lakes and beautiful scenery. Tourism is one of the state's pillar industries.
In the tourist center of Minneapolis Tourism Bureau in the city center, Tom & middot with short silver hair; Maloney enthusiastically introduced the city's tourist attractions to every visitor. " We don't see many Chinese tourists every day, "he told reporters." we hope more Chinese tourists can come here. " CBS News reported that China has become the third largest tourist source market in the United States, with an average cost of $5800 per person per trip.
In contrast, the per capita cost of British tourists, the largest source of overseas tourists in the U.S. tourism industry, is only $2500. However, the escalating economic and trade frictions have curbed the momentum of Chinese tourists traveling to the United States. The report cites the latest data from the research company of the Oxford Institute of economics in the United Kingdom to point out that since the beginning of 2018, the number of Chinese tourists to the United States has begun to decrease. With the continuation of trade tensions, it is expected that by next year, the number of Chinese tourists to the United States will be reduced by 2 million, and the loss of tourism revenue in the United States will reach 11 billion US dollars. The research company estimates that the sharp decline in Chinese tourists last year led to a decrease in tourist spending of $2 billion. This year, the number of Chinese tourists is expected to decrease by 650000, which means a loss of US $3.8 billion. Although these figures may be insignificant to the total US $20 trillion economy, they are of great significance to the local economy and even more important to small businesses that rely on Tourism in the context of the economic slowdown.
According to official statistics of the United States, the number of Chinese tourists to the United States in 2018 decreased by 6% compared with the previous year, and declined for the first time in 15 years. In this regard, experts in the U.S. tourism industry believe that the decrease in the number of tourists is visible to the naked eye. Therefore, from an economic point of view, the sooner the government ends the trade dispute, the better. However, many tourism practitioners have confidence in the future. Elliot & middot, chairman of the board of directors of the American Tourist Association; Ferguson said that although the economic risks are real, in the long run, interests and needs still exist, and he will go all out to expect the situation to be reversed. Not only tourism, the number of Chinese tourists to the United States has decreased significantly, and relevant industries in the United States are also under pressure. According to a recent report by the financial times, thousands of Chinese tourists have avoided the United States and do not regard the United States as a holiday destination. From Tiffany, a jewelry brand, to Hyatt, many companies are counting losses.
Macy's unexpectedly weak sales in the second quarter of this year were partly due to a 9% drop in sales driven by foreign tourists, it said. Jeffrey & middot, CEO of the company; Ginnett said that the decline in the number of tourists is not a small problem because the profit margin of commodity sales for tourists is very high. He said: 'they prefer to buy at full price, and there are few returns.' This summer, a tourism consultant reminded Chinese tourists that they are at risk of 'shooting, robbery and theft' in the United States and may also be 'harassed' by local law enforcement officers. Sachs of the tourism economic consulting company said that according to his understanding, such a reminder prompted some students and tour groups to cancel their trips to the United States. According to the statistics of the U.S. National Tourism Administration, Chinese tourists accounted for less than 8% of foreign tourists to the United States last year, less than nearly 12% of British tourists, but Chinese tourists contributed more to the U.S. economy than tourists from any other country.
Take Tiffany as an example. Thanks to the contribution of foreign tourists, its retail business in the United States achieved 'double-digit' growth, but the company's revenue fell by 25% year-on-year in the first quarter of this year. The company's share price has fallen 11% in the past six months. The company said that the decrease in Chinese tourists led to a greater decline in turnover. According to the article, about 40 stores in Macy's department store are most affected by the reduction of Chinese tourists. Ginnett said that Macy's department store is trying to find various ways to attract more domestic tourists and local customers. He said, 'we are trying to offset' the decline in business caused by the decline in Chinese tourists. However, other executives said they had adopted a postponement strategy to see it change. Glenn & middot, CEO of booking; Fogel said it is important not to retreat just because of temporary changes. In the long run, there are still huge business opportunities in China.