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Stuck in China, consumers are spending millions for luxury goods in Hainan

Chinese consumers opened their wallets to shop during the week-long National Day holiday that ended Thursday, even as travel numbers fell compared to the previous year.

Sales at nine duty-free shops in the southern island province of Hainan totaled nearly 1.64 billion yuan ($252.3 million) from Oct. 1 to 6, according to state media. That marked an increase of 75% from the same period in 2020, and more than four times more — or a 359% jump — compared to the same period in 2019, the report said.

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