Europe is becoming a more attractive destination for Asians after the peso surged 19 percent against the euro in the past year and China’s yuan climbed 17 percent. Bookings rose 30 percent in Manila in the first quarter and 12 percent more Chinese are forecast to visit France in 2012. Their spending is supporting hotels, stores and restaurants as the debt crisis batters local demand.
With a currency that’s seeing an exchange rate that favors them with double-digit percentages, tourists from China and other parts of Asia are able to save significantly on luxe goods, despite import duties back home.
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