The cost-of-living crisis is being felt from Shanghai to Sydney.
Qantas recently posted a 28 per cent fall in its post-tax profit to $1.25 billion for the 2024 financial year. Even French luxury house LVMH has warned of an “uncertain economic and geopolitical environment” after its third-quarter fashion and leather goods sales fell 5 per cent on last year.
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Fiona Carruthers has written and edited travel for the Financial Review for almost a decade. She has held senior roles with ABC Radio National, Deutsche Welle Radio, TIME and The Australian, and was deputy editor of Traveller. Email Fiona at fcarruthers@afr.com
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