London’s West End Experiences Sales Boom as Visits from Chinese Tourists Increases
Benjie Batanes | | Jun 01, 2015 08:52 AM EDT |
(Photo : Reuters) Stores in West End are experiencing a sales boom as London increasingly becomes a popular destination among high spending Chinese tourists.
Purchases from Chinese tourists accounted for about 20 percent of all sales to overseas visitors in London's West End luxury stores in the first four months of this year, according to The Telegraph.
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Stores in West End are experiencing a sales boom in 2015 thanks to the increasing influx of tourists from China and Saudi Arabia, as well as the growing popularity of tax free shops in Regent Street.
According to a Global Blue report, Chinese tourists spent nine percent more this year as compared to last year. It is estimated that the average Chinese shopper spends roughly ¥13,750 (or $2,219). Visitors from Qatar spend more money for every transaction though.
Global Blue is a payment solution company that enables travellers to buy items in tax-free shops.
Most Chinese tourists shop at Bond Street, which houses luxury brands such as Chanel, Christian Dior, and Louis Vuitton. The shops in this street account for almost 23 percent of all luxury items sold in the West End.
The stores in Regent Street are reportedly also becoming a heavy favorite among Chinese shoppers. Purchases from Chinese travelers this year climbed up by 129 percent year-on-year. This boost has been credited to the success of the Burberry store as well as the simultaneous occurrence of the Chinese New Year and the London Fashion Week.
Despite the increasing popularity of London among Chinese tourists, Paris is still a heavy favorite. British Airways head Willie Walsh said that Paris gets eight Chinese tourists for every one that visits London.
Global Blue UK manager Gordon Clark believes that more Chinese tourists will come if the British government removes some of the restrictions imposed on Chinese visas. Michael Ward of Harrods notes that in 2014, the number of Chinese tourists dropped by over seven percent despite a five percent increase in total tourists' arrival.
Walsh recently noted that plans to attract more Chinese tourists to Britain with a new visa system has failed miserably. He noted that a "radical overhaul" of the system is necessary, according to This is Money.
TagsChinese Tourists, London West End, Burberry, London, bond street, regent street
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