Tourists spent just over 68 percent less money in Europe in March than in the same month last year, according to new data cited in an analysis by UBS, according to Business Insider.

The sharpest decline was seen in coronavirus-hit Italy, where the decline was a whopping 96 percent compared to March the previous year. Among the travel groups, there was a big decline among Chinese visitors, who spent 85 percent less in Europe during the month. 

Consumption of luxury goods in Europe, from producers such as Chanel and Louis Vuitton, fell by 78 percent in March.

Source: Nyhetsbyrån Direkt