The managing director of Harrods, Michael Ward, has warned that a new initiative to ease visa requirements to the Schengen area could mean that London loses out, yet again, to other European capitals in attracting overseas visitors. European Commission vice-president Antonio Tajani is hoping to relax visa requirements to the 25 countries in the Schengen area, particularly for visitors from China, Russia and South America, as part of an EU effort to boost the luxury goods market. These are precisely the wealthy tourists that London should attract.