Mar 25, 2014
Russian spending in Britain drops
Mar 25, 2014
LONDON, England - Russian spending in British shops fell by 17 percent last month compared to February 2013, according to tax-free shopping statistics out Monday.
Visitors from Russia spent an average £669 ($1,103, 800 euros) per transaction, according to Global Blue, seeing them overtaken in third place by those from Nigeria compared to 12 months ago.
Spending by Russian visitors was up 16 percent for the year in 2013 but fell in February 2014.
"The unstable situation in Russia has shown its effect on tourism spend this year as the weakening economy leaves shoppers disinclined to travel," said Gordon Clark, Global Blue's UK country manager.
"However, Russia is still one of the top globe shopper markets in the UK as high net worth individuals are drawn to the UK's extensive offer of luxury brands, so businesses should renew their emphasis on strategies to entice these individuals and encourage high level spend."
The firm, which works with retailers to help provide tax-free shopping for foreign visitors, said the growth in Russian tourism may slow in the near future.
Shoppers from the Middle East (up 31 percent) and China (up 23 percent) continue to represent the highest proportion of international sales in Britain.
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