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Swiss watchmakers expect Chinese to boost sales

April 02, 2023

Geneva: Switzerland’s major luxury watch brands are cautiously optimistic that Chinese tourists will boost sales this year, if they return to Europe in large numbers after the easing of domestic Covid restrictions.

Exports to China, a key market for watchmakers, contracted by 13.6 percent in 2022 due to Beijing´s zero-Covid policy and the surge in infections when it was lifted at the end of the year. However, exports began to rebound in February -- up 8.2 percent year-on-year, according to the Federation of the Swiss Watch Industry. “China will regain a positive dynamic,” the federation´s president Jean-Daniel Pasche said.