Coronavirus outbreak: Sportswear giants Puma and Adidas warn on trading impact February 19, 2020 German sportswear giants Puma and Adidas have warned that the outbreak of coronavirus in China has hurt trading due to the temporary closure of stores and a drop in footfall. Puma said the outbreak will impact sales and profits in the first quarter of the year, after it was forced to shutter more than half [...]
Japan’s economy shrinks at fastest rate in five years February 17, 2020 Japan and Singapore teetered on the brink of recession today after a poor end to 2019 was compounded by the coronavirus threat to the countries’ tourism industries and supply chains. Japan’s economy shrank at its fastest rate in five years at the end of 2019, it was revealed today. GDP fell 6.3 per cent in [...]
Super-rich international shoppers flock to UK department stores February 4, 2020 The UK is the second most popular shopping destination in the world for super-rich tourists, with visitors spending up to €35,000 each with luxury British retailers, according to the latest research. Britain attracts 31 per cent of international “elite shoppers”, second only to France which took a 36 per cent share last year. Super-rich visitors [...]
Airbnb backs creation of EU digital regulator after court victory January 29, 2020 Airbnb has backed calls for the creation of a digital regulator for the European Union after winning a landmark court case in the bloc that meant it could be classed as an online platform rather than a property agent. The short-term home rental platform said a new watchdog should form part of the discussion around [...]
Japan – with kids? Believe it or not, it works December 18, 2019 The looks of incomprehension became commonplace, from colleagues, friends, neighbours and, most severely, my mother-in-law. “You’re taking her… to Japan?” they asked, through a variety of similar rhetorical questions. A trip to Japan should surprise no one, these days. The island state is undergoing an eye-watering boom in tourism, with visitor numbers soaring from 13m [...]
A tourist tax like Edinburgh’s could be the answer to London’s funding squeeze December 12, 2019 London is one of the most-visited cities on the planet. These visitors bring investment, diversity and vibrancy — and their numbers are rising. By 2025, London is projected to attract over 40m overnight visitors a year, up from 31m in 2016. But while the tourism industry is a boon to the national economy and employment, [...]
New beer and pubs boss looks to ensure industry keeps its fizz December 3, 2019 Beer is proof God loves us and wants us to be happy” is a quote that adorns tourist-tat t-shirts and bar mirrors across the world. It also, as far as anyone can tell, was never actually said by the man usually given credit — Benjamin Franklin. But regardless of whether the Founding Father uttered the words, [...]
Italy declares state of emergency as Venice plunged under water November 15, 2019 Italy has declared a state of emergency in Venice with much of the historic city under water following its worst flooding in 50 years. Numerous tourist hot spots, including its basilica, squares and centuries-old buildings have been submerged in water. One of the artist Banksy’s most famous pieces of work is also under water following [...]
Prosperity or pound shop? Our free trade future awaits August 9, 2019 Like most of us, I’ve been watching the new government in the UK with interest – and no small measure of anxiety. As it became clear that Boris Johnson would emerge as the new PM, it also became clear that there would be a sharp change in government policy across the board. Theresa May, for [...]
Sir Philip Green faces a crunch moment June 4, 2019 THESE are not good times for Sir Philip Green. The scandal-hit tycoon has been spending more days than usual at his Monaco base in recent months, laying low in the sunny tax haven while both his reputation and high street empire take a beating back in the UK. But even Green will struggle to avoid [...]