UK Recession May be Cut Short by High-Spending Chinese Tourists
- Credit Suisse revises up its outlook for UK economy in 2023
- Luxury retailers set to get a boost as China reopens borders
Passengers of a flight from China.
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The reopening of China’s borders is set to allow the return of its high-spending tourists back to the UK, helping to reduce the size of its recession in 2023.
Forecasters at Credit Suisse expect Xi Jinping’s reversal of strict zero-Covid constraints will help drive a recovery in UK goods exports to China and draw in tourists that plow money into high-end shopping.