China's tourism industry sees service enhancements amid inbound surge

Chinese businesses are ramping up services to cater to a surge in international tourists, fueled in part by relaxed visa policies.

According to the National Immigration Administration (NIA), nearly two million visits were made to the Chinese mainland by visa-exempted foreigners in the first quarter of this year, up 266 percent year-over-year.

Beijing's Silk Street shopping center is experiencing a boom in foreign visitors, with hundreds of thousands now passing through its doors daily. This surge in inbound tourism is prompting the center to expand its offerings beyond traditional souvenirs, incorporating unique cultural experiences such as tea tasting and calligraphy lessons.

"This is my name in Chinese. Oksana. (It's) very good, very beautiful," said Oksana, a Russian tourist, who bought a calligraphy written with her name in Chinese.

Nana Ibeku, a Nigerian tourist who is on a business trip in Beijing wanted to get a special souvenir for her friends. She found a private tailoring shop, hoping to sew a set of traditional Nigerian-style clothing with Chinese silk.

"First of all, I love fashion. So, if we have China silk, Nigerian-style, that's like a mix of culture. And that's what we are all hoping to get these days," she said.

Tailors on Silk Street are accelerating turnaround times, offering garments in as little as 18 hours, and even providing convenient door-to-door delivery for international customers. This reflects a wider trend among stores, as Silk Street businesses adapt to cater to the growing tourist market.

"Sometimes boxes are too big and heavy to take away, so we offer global shipping services to foreign tourists, making it easier for them to prepare gifts for their family or friends," said Xia Qunzhuan, a merchant of a bedding store in Silk Street.

Further efforts to streamline payment options are underway across China, solidifying the country's commitment to a smooth tourist experience

According to the People's Bank of China (PBOC), the number and value of transactions via international card POS terminals in the country increased both by about 20 percent last month compared with March.

China's tourism industry sees service enhancements amid inbound surge

Annual inflation in the eurozone is expected to edge up to 2.9 percent in July from 2.8 percent in June, according to a flash estimate released by Eurostat on Friday.

The increase was mainly driven by renewed energy price pressure. Energy prices are expected to rise 10.0 percent year-on-year in July, up from 8.5 percent in June, according to Eurostat, the statistical office of the European Union (EU). Services inflation is also expected to rise to 3.3 percent from 3.2 percent a month earlier.

Food, alcohol and tobacco prices are estimated to rise 1.2 percent year-on-year, down from 1.5 percent in June, while non-energy industrial goods are expected to post an annual inflation rate of 0.9 percent, up from 0.7 percent. Core inflation, which excludes energy, food, alcohol and tobacco, is estimated at 2.5 percent in July, up from 2.4 percent in June.

According to Eurostat data, inflation rose in three of the eurozone's largest economies in July. Germany's rate increased to 2.8 percent from 2.4 percent in June, France's to 2.4 percent from 2.0 percent, and Spain's to 3.8 percent from 3.6 percent. Italy's rate, meanwhile, edged down to 2.9 percent from 3.0 percent.

Among eurozone members with available data, Lithuania is estimated to have posted the highest annual inflation rate in July at 5.6 percent, while Estonia is estimated to have posted the lowest at 2.0 percent.

The data came after the European Central Bank (ECB) decided last week to keep its three key interest rates unchanged. The ECB said that the outlook for energy prices remained highly volatile and the full inflationary impact of the energy shock had yet to play out.

Eurozone inflation edges up to 2.9 pct in July as energy prices rise