Chinese shoppers drive growth in global tax-free spending
In August, global in-store tax-free shopping revenues surged by 17% YoY, maintaining strong momentum following a 25% increase in July and a 41% rise in Q2, according to Global Blue. Continental Europe saw a 10% growth in issued sales, driven by an 8% increase in shoppers and a 2% rise in average spend. Mainland Chinese shoppers led with a 25% increase in tax-free spending, while US spending grew by 18% due to the 2024 Paris Games. However, Gulf Cooperation Council shoppers saw a 1% decline. In Asia Pacific, tax-free sales grew by 37%, fueled by a 38% increase in the number of shoppers, though average spend per shopper fell by 1%. Notable growth was seen in Japan (+50%), South Korea (+43%), and Spain (+23%), with Hong Kong and Taiwan also showing strong increases.