Challenges mount for UK luxury retail: Chinese student drop and ‘Tourist Tax’ dent confidence ...Middle East

Declining international student applications from mainland China, the result of tougher visa requirements and climbing surcharge fees, and the removal of tax-free shopping for tourists in January 2021, are piling pressure on luxury brands and retailers operating in the UK. The number of Chinese students accepting firm offers from UK universities dipped 17.5 percent year-on-year this academic year, according to Universities and Colleges Admissions Service (UCAS) Chief Executive, Clare Marchant. This is the first such decrease in a decade. “Ultimately, with fewer students coming from the mainland, the UK will also lose out on the very valuable VFR (visiting friends and relatives) revenue … Th

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Challenges mount for UK luxury retail: Chinese student drop and ‘Tourist Tax’ dent confidence ...Middle East

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