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In the first six months of this year, the luxury tourist spending by foreign visitors around Europe grew by 11%. In Spain, the increase during the last 9 months reached 18% despite the attack in Barcelona last August, according to Global Blue.
“Contrary to what happened in Paris in November 2015, tourists coped with the Barcelona attack within two weeks, which demonstrates the ability of the system to adapt to this type of situation,” explained Global Blue management.
From January to September, the number of tourists in Europe and their spending increased. Visitors from all countries increased their spending on luxury goods, with the exception of the tourists from the Middle East, whose spending went down by 13%.
The Chinese tourists continue to lead the consumption of luxury goods in the old continent, representing 28% of the total spending. The amount of visitors from China increased by 15% during the period.
The number of visitors from Russia increased by 24% in the first nine months of this year, taking 9% of the total tourist spending. As for United States, its disbursement in Europe has increased by 19%, due to a favorable exchange rate.
Italy, France, the United Kingdom, and Germany attract 84% of the total tourist spending in Europe. France and Italy recorded growth in the tourist spending of 7% and 8%, respectively.
The United Kingdom recorded increased tourist spending by 22%. However, the effect caused by the decrease in exchange rates caused by Brexit has begun to decline, according to Global Blue. In the last quarter, purchases by tourists in the country fell by 3% and another 1% is expected to fall in the next ninety days.
Germany, on the other hand, suffered a 4% decrease in the spending of its foreign visitors in the first nine months of the year. Previously, the German country was preferred by Chinese tourists looking for luxury brands, which attracted many brands of the sector to German airports. In the coming months, it is expected that the luxury tourist spending in the country will fall again by 3%.
Source: tourism-review.com