How Europe’s Economy Is Boosting Travel

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July 11 (Bloomberg) –- MasterCard Advisors Senior Vice President Sarah Quinlan discusses the trends in travel and London being the top travel destination in Europe. She speaks with Anna Edwards, Manus Cranny and Ryan Chilcote on Bloomberg Television’s “Countdown.” (Source: Bloomberg)

As the top destination for international travel according to a mastercard index.

For more, we are joined by an advisor and senior vice president.

Thank you for joining us.

What is so surprising is the numbers keep going up.

The pound strengthening.

When i came here it was 2.10 to the dollar.

No one wanted to visit.

Now all of a sudden when it was 1.35 6oto the dollar.

Everyone wanted to come and shop in london which i found shocking.

We are getting heady again with the pound.

Yet people are still coming.


One of the things postrecession we see in splinting globally is =--- in spending globally is that people want experiences.

There is a change from goods to traveling and looking at art.

We see this change and how the spending pattern is.

That would lead to people coming to a great place like london.

How is any slowing in any emerging markets, tensions showing in any of your data?


They are just spending differently.

One of the things, the two strongest spending economies we see are the united states and united kingdom.

The rest of the world is slowing dramatically.

Some of that would be travel spend, but that is a higher end elite group.

What we are seeing is that real challenge in some of the other markets of spending.

Two big things that stood out.

One is the uk consumer is roaring back to life.

Luxury remains negative.

17 months in a row.

Will one bolster the other in this economy?

No, not at all.

One of the things that is interesting is luxury is negative in the united states as well.

It has a d corliss asian -- deco rrelation effect, that would people spend with -- that people would spend on luxury.

We have seen the crackdown in china.

We have seen spending and hong kong go negative year-over-year and that was based upon jewelry going negative.

There is a nightclub in town.

I have never heard of it.

The young lads.

Of course it is.

Crystal goes for more than $700. it is always packed with russia ns.

We have been noticing that there are not there.

I say "we." matt campbell deserves the credit.

Anecdotally, they are not there.

They are not on the clientele anymore.

Is that a trend?

That is the trend.

That is the interesting thing.

When everyone is looking for the chinese to replace the russians or people from the middle east -- that is not happening.

So that is why luxury remains negative.

We see the strength and other things, apparel, jewelry, department stores, grocery.

That's carrying the whole thing.

This text has been automatically generated. It may not be 100% accurate.


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