Chinese tourists spend big during shopping holidays for Lunar New Year. Julie Noce reports.
In Japanese its called 'bakugai'... and it means 'explosive spending'. It happens during the Lunar New Year holiday when Chinese tourists come to Japan for elaborate shopping sprees. From cosmetics, and over the counter drugs... to electronic good and brand name items. (nats cash register/ bags crackling) Tourists often arrive at the airport and head straight to Ginza, an upscale shopping district, ready to start spending. My kids want LEGO toys and Gundam robots, this tourist said. I'm going to buy high-quality clothes and Japanese medicines. Tourism statistics for 2015 say mainland Chinese tourists spend about $2300 dollars per person, per trip. That's 75% more than other tourists in Japan. Experts say it's not just the yen's depreciation that make Japanese goods so appealing .... (SOUNDBITE)(English) CREDIT LYONNAIS SECURITIES ASIA ANALYST, MARIANA KOU, SAYING: "But also I think the shopping is amazing, not only, for example, cosmetics but even daily items like drugs, and just daily usage. Just consumer goods are really good. They are known for their quality and the Chinese know of that and they've really changed focus to be on Japan " According to local media,this year's Lunar New Year will see more than 40 million Chinese visitors spend over 100 billion US dollars.