Luxury brands suffer slump as tourist spending falls in Europe and Japan – FT

Changes in currency exchange rates have discouraged American and Chinese travelers from spending, the paper writes

Luxury brands have reported declining sales in Europe and Japan as American and Chinese tourists, once major drivers of growth, have cut back on overseas spending, according to the Financial Times.

Last year saw a surge in luxury sales fueled by tourist activity, as Chinese shoppers flocked to Japan when the yen was at a 30‑year low, the paper wrote on Monday. Meanwhile, American consumers benefited from a strong dollar and increased their luxury spending in Europe.

Those trends have reversed in 2025, as the yen has strengthened…

Read the full article at RT.COM