The average spend by international tourists visiting the UK dropped 3% year on year from January to October.
Tax-free shopping expert Global Blue’s latest insights report showed overall spend fell but “luxury spend” in London had increased on 2017.
The average spend among international visitors on luxury destination Bond Street increased by 4% year on year during the 10 months. International shoppers spent an average £1,341 per transaction during the period. In October 2018 average spend on Bond Street was up by 13% compared with the same month last year.
Top spenders on Bond Street include visitors from the UAE, Qatar and Hong Kong.
UAE shoppers are the highest spenders, averaging £2,074 per transaction between January and October 2018, up 19 % compared with the same period in 2017.
They are closely followed by Qatari shoppers, who spend £1,964 per transaction, up 7 % year on year. Hong Kong shoppers spend £1,837 per transaction, up 15% on 2017.
The report also reveals that the biggest surge in spend has been from visitors from Indonesia, who are averaging £1,551 per transaction, up 20% compared with the same period last year.
Derrick Hardman, managing director UK and Ireland at Global Blue said: “It’s encouraging to see the growing demand for luxury shopping among our international visitors. It truly demonstrates London’s global reputation as a first-class retail destination, known worldwide to offer an outstanding luxury retail experience.”