With ruble plunging, many Chinese tourists would like to go to Russia for visit and shopping.
The plunging Russian ruble has overshadowed the country's holiday shopping season but delighted tourists from neighboring China, drawing 50% more tourists in December year-on-year, reports the Chinese-language Beijing Times.
December is conventionally the off-season for tourism, but this year, thanks to a cheaper ruble, "group travel packages costs 40% less than summer prices, and less than half of the price for traveling to other European countries," said the product manager at C-Trip, one of China's largest tourist agencies.
Vacancies in all discounted routes from other major tourist agencies are sold out, according to the report.
Many of those traveling to Russia are cleaning the shelves of luxury brand stores. "I've lived in Moscow for years and I've never seen so many Chinese cramming in here like it is now," said He Mu, a Chinese expatriate in the city. "It is as if I'm in China."
Numerous Chinese tourists can be seen lining the shops of Moscow with several bags filled with trophies. In the state department store GUM on Moscow's Red Square, stuffed with high-end shops, most top-tier luxury and cosmetic products have disappeared in the stampede.
According to He, products of luxury brands such as Hermes, Louis Vuitton and Prada all sold out on Dec. 16.
On the same day, the headline on the front page of a Russian newspaper read, Euro Against Ruble 1:100; US$ Against Ruble, 1:80." Money exchange agencies have stopped taking in rubles.
The country's financial crisis has led to abrupt inflation. Many Russians with substantial assets have been buying luxury automobiles to secure their assets. The sales of Porsche and Lexus rose 55% and 63% in November alone, respectively.
According to the Guangzhou-based China Business News, the price of general expenditures has gone up about 20% within just weeks. International franchises such as McDonalds, Pepsi and cosmetic products are adjusting their prices or even temporarily closing stores.
According to CNBC, Spain's fast fashion brand Zara closed its flagship store in Moscow earlier this month. Apple announced the official suspension of product sales on its official Russia site on Dec. 16 as well.
京公网安备 11010502048770号
