London’s retail tourism industry saw strong growth in 2016 as international tax free shopping spend in the capital increased +15% compared with 2015. These figures support VisitBritain’s announcement today that more overseas visitors came to the UK last year than ever before.
Ros Morgan, Chief Executive of Heart of London Business Alliance says: “London, and the West End, is a huge contributor to the UK’s tourist economy and last year’s positive growth shows the importance of our city to destination UK. We know the weakened pound played a role in attracting visitor spend, but now is the time to ensure we continue to inspire visitors’ to travel here and support our thriving tourist economy and remind visitors that #londonisopen.”
In London, Chinese visitors accounted for the greatest share of international tax free shopping spend in 2016 at 21% and their spend increased +17% in the year January to December compared with 2015. Saudi Arabia and the UAE account for 8% of London’s tax free shopping market each; their spend grew by +14% and +28% in 2015, respectively.
The United States, which VisitBritain named Britain’s most valuable tourism source market, accounted for 5% of London’s international tax free spend and increased by +39% on 2015.
International tax free spend figures sourced from retail tourism experts, Global Blue.