For more than a decade, China has been one of the most important growth engines for western luxury brands. From fashion and watches to fine wines and spirits, rising incomes and global exposure have fuelled an extraordinary appetite for premium products.
Scotch whisky has been a major beneficiary. Between 2019 and 2023, exports to China surged in value from under £90 million to more than £235 million. But sales have fallen for three consecutive years, while inflation, rising costs and trade tensions have squeezed margins. Now, exports may benefit once again after China halved tariffs on scotch from 10% to 5%.
