7% surge in shopping by tourists in the UK following the Brexit vote
There has been a 7% surge in tax free shopping by tourists in the UK following the Brexit vote, according to Global Blue tax free shopping network.
The weaker pound has made shopping in Britain much cheaper for international visitors.
Chinese tourists accounted for the largest portion of overall spending, with a 32% share and an average spend of around £840 per transaction. Chinese spending rose 6% for July.
Spending year on year increased the most among tourists from Japan, the US and Indonesia.
US tourists accounted for 7% of total spending, with average spending up 22% year-on-year to £734 per transaction.
Spending by Japanese and Indonesian tourists rose by 96% and 88% year-on-year respectively.
Gordon Clark, Global Blue’s managing director for UK and Ireland, said: “Though the weaker pound following the referendum was initially unwelcome news, it has proved perfect timing for tourists visiting the UK, enjoying the British leisure, luxury and cultural offering during the summer season.
“The cash injection we have seen off the back of this has been hugely beneficial for our tourism economy. As the pound still fluctuates, we hope the flurry of tourist activity to the UK has inspired others to follow suit and visit and shop in the UK, where they can see a large discount from exchange rate benefits, but also from tax free shopping.”
Shoppers from Qatar spend the most per transaction, at £1,642.