The Euro has depreciated nearly 20 percent against the Yuan since 2009 – which means Chinese are planning trips to Europe to buy name brands at a “discounted” price. Name brands, such as Louis Vuitton, a Chinese favorite, are now cheaper in Europe than on the mainland including Hong Kong, an otherwise very popular place to shop for the pricey goods. According to an avid shopper, Li Yaoyi, “A 1,000-euro purse now costs about 8,000 yuan, which is about 1,400 yuan cheaper according to the converted price paid for the commodity in the same period last year”. The depreciation of the Euro has sparked numerous of trips from China to Europe, especially in the months of July and August, which has increased by 20-30 percent in comparison to last year. Due to the influx of traveling to Europe, prices for trips have increased 10 percent to major European cities, but that has not hindered Chinese tourists from traveling to Europe. They seem eager to help revive the European economy single handedly through purchases of luxury goods.

Source: Xinhuanet.com

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