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How Much Will Luxury Benefit From Australia’s Reopening?

Wealthy tourists are key to the recovery of the Australian luxury market but analysts predict that the sector won’t return to pre-pandemic levels until next year.
Retailers who are reliant on international shoppers have experienced significant downturns since the pandemic hit.
With the reopening of Australia’s borders to vaccinated international tourists, some of the luxury consumers who have traditionally been a boon to local retailers are now finally able to return. (Shutterstock)
By
BoF PROFESSIONAL

Before the pandemic, Melbourne’s Collins Street Precinct was an asphalt runway for deep-pocketed international visitors on the hunt for Dior, Chanel, Hermès and Louis Vuitton in an area that conveniently provided them with sufficiently exotic landmarks to show their Instagram followers they were enjoying a spot of retail therapy abroad.

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