Shoppers from the US and Russia will play a big role in boosting the UK economy in the run-up to Christmas, new data has shown.
Over the coming 90 days, tourism shopping tax-refund company Global Blue has predicted a 14% increase in tax-free transactions from American shoppers and a 7% increase from their Russian counterparts.
American spend is largely being driven by the strength of the US dollar and income tax reductions, which have given them more disposable income.
In contrast, Chinese transactions are expected to drop by 7% over the “golden quarter”. Despite this, Chinese shoppers still make up 28% of tax-free spend in Europe, compared with the US’s 8% and Russia’s 7%.