SHANGHAI — Sun, sand, sea and shop.
Sanya has figured perennially over the last few decades as one of China’s top holiday destinations, but this summer the beachy area on the island of Hainan is expected to pull in an especially young, moneyed crowd — and brands and retailers are taking note.
Over the May 1 Labor holiday, China Duty Free locations in Hainan island including the world’s largest single-building duty-free location in Sanya pulled in 300 million renminbi, or $42 million, from 70,000 visitors. While that was an encouraging sign already of a bounce back, on June 1, the central government announced its new plan to further develop the Hainan economy. Among the extensive measures is to more than triple the per person duty-free shopping allowance from 30,000 renminbi to 100,000 renminbi.
Domestic spending in mainland China overall is benefiting from