Tax-free spending by Chinese tourists fell in March for the first time in at least four years as terrorist attacks in Europe and new visa requirements deterred trips to the region, according to payment processor Global Blue. Only 54 percent of Chinese holiday makers plan to travel outside Asia this year, with South Korea and Japan seen benefiting most. To attract shoppers, European retailers need to accept payment in yuan, hire Chinese-speaking staff and have Wi-Fi in store, Global Blue says.
(Corrects percentage of Chinese holiday-makers planning to travel outside Asia.)
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