South Asia fuels shops boom
SHOPPERS from Asia helped keep Britain’s tills ringing last year, with their spending in the UK up by 34 per cent thanks to growing demand from south eastern countries like Singapore.
Chinese travellers remained the biggest drivers of growth, with spending up 64 per cent year-on-year in January, according to Global Blue, the tax-free shopping services company that compiled the statistics.
However, south east Asian tourists (SEATs) followed closely behind, splurging £549 on average per visit up 43 per cent.
The SEATs fuelling this growth were from Hong Kong and Singapore, which were up by 34 and 52 per cent.
“SEATs have easy access to global designer brands at home, however the premium placed on authenticity in their purchases is driving these tourists to the UK,” Richard Brown, vice president of Global Blue UK, said.
“In addition to re-claiming the VAT, SEATs are mirroring Chinese and Indian tourists in harnessing significant savings with their favourite brands which are priced less in the UK than at home.”
There was also a surprise rebound in sales from Japan, which rose by 26 per cent last month compared with the previous year, as the economy recovers from the effects of last year’s tsunami.
Global Blue said it expects travel from Japan to surge this year, particularly among single women and baby boomers both exercising high disposable incomes.
The most popular shopping destinations remained London’s West End and luxury destinations like Knightsbridge. Out-of-town retail outlets like Bicester Village also enjoyed a high footfall of Asian visitors.