Overseas Visitors Splash the Cash in UK Shops

Posted on 10 March, 2013 by MOVEHUT

The high street may be buried in recession-related gloom; however Britain remains one of the world’s most preferred destinations for overseas shoppers looking to splash their cash.

Findings released by the national tourism agency, VisitBritain, shows that 18 million foreign visitors spent an impressive £4.5bn in Britain’s shops in 2011, a total spend of £17.9bn. That means they spent, on average, a quarter of their total spending on department stores, high streets and shopping centres across the UK.

Over half of the shopping spree was on clothes, with an estimated £2.3bn generated by fashion-conscious foreign tourists. Many visitors also snapped up gifts, souvenirs and household goods, on which they spent £1.6bn.

Further examination of the research found that a ‘shopping’ tourist spends more – an average of £680 for each trip – than an ‘ordinary’ overseas tourist who typically spends £580. And shopping in Britain was ranked above France and the same as Italy in terms of value for money.

The findings, based on information from the Office for National Statistics’ International Passenger Survey, show that London’s world-class stores, shops and markets are a major attraction for foreign visitors. Around 81 per cent of holiday visitors to London hit the shops. The regional benefits are also strong, with between two-thirds and three-quarters of holiday tourists shopping outside the capital.

At a time when UK consumers are reining in high street spending due to falling incomes and economic uncertainty, the amount of revenue being generated by tourism offers some relief to those retailers benefiting from the spending.

Given the importance of tourism to the economy, what do you think we should be doing to attract more overseas visitors, particularly to areas outside of London?




Leave a Reply

Your email address will not be published. Required fields are marked *

This site uses Akismet to reduce spam. Learn how your comment data is processed.


Recent Posts

Interest Rates Impact on Commercial Property

Commercial Property Investment Outlook for 2023

The best places to stay on the Riviera

The latest property data has identified Newquay as the fastest property seller’s market in the UK

Investing in your garden can increase your property’s value

French Riviera temping high-end homebuyers

How can the ownership rights of my commercial property impact a business sale?

Should I incorporate virtual property viewings permanently?

Investment expected to increase across Asia-Pacific in 2021

UK property industry slows as the conclusion of tax break looms

BNP Paribas cautioned investors on Friday as debt-trading bonanza that increased its earnings this past year

Over 300,000 property purchases fell through in 2020 – we show the most frequent motives and the best way to get your house sale back on track

House Prices in the Capital Surpass £500,000

Optimism from the Bank of England’s chief economist

The most expensive commercial properties.

Businesses operating from shared premises will miss out on grants