Overseas visitors keen to get their hands on the latest designer goods have helped boost profits of UK high street retailers.
According to a report by the Independent, visitors from Saudi Arabia, China and Brazil splashed out in the post-Christmas sales on discounted luxury items. The opportunity to claim back tax when leaving the UK made high street price tags even more appealing.
Jace Tyrrell, a spokesman for the New West End Company, which represents shops in London's Bond Street, Regent Street and Oxford Street, said Chinese shoppers will target expensive goods and spend an average of more than £1,300 per sale. That compares with British bargain hunters who spend an average of £120.
Mr Tyrrell said: "It's very important for us because they're luxury shoppers and they spend on high-priced items.
"Luxury goods are about 30 per cent cheaper here because there's a very high tax on such goods in China. And we know anecdotally there's a desire to buy British and European luxury goods where they are made, because they're genuine artefacts."
It has been estimated that £10bn will be spent by consumers in the UK during this week.
