A new survey has revealed that spending by tourists rose sharply last month, as retailers sought to entice cash-rich foreign visitors to the UK.
According to research from Global Blue, tourist spending on UK retail products was up 20 per cent year-on-year in December, while tax-free spending was nearly six times higher than at Christmas 2001. The tourist market has proven particularly lucrative for British retailers of late, with domestic consumer confidence still weak.
“December is the most crucial month of the year for retail and an early start to sales across luxury and designer brands whipped tourists into a spending frenzy, providing a welcome buffer against an anticipated dip in Christmas trading,” said Global Blue’s UK vice-president Richard Brown. “December figures highlight the present wealth and spending power of tourists.”
Visitors from the Middle East spent the most per transaction at British outlets, averaging £753. Retailers have also been keen to attract tourists from oil-rich Nigeria, and it is hoped Chinese travellers will spend big over the current lunar New Year period.
London topped Global Blue’s Globe Shopper City Index last year, beating competition from other major retail destinations including Paris, Barcelona and Madrid.
