![](https://i.imgur.com/CLvY2jA.png")
15-08-2023, 01:37 PM
Daniel Woolfson
Mon, 14 August 2023 at 6:14 pm SGT
American shoppers are shunning London in favour of European cities such as Paris, Milan and Madrid in the wake of Rishi Sunak’s controversial tourist tax, new data reveals.
The luxury boutiques and retailers of London’s West End, which have long been a draw for wealthy tourists, have seen a drop off in spending from US visitors despite increased footfall.
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By contrast, the amount American shoppers spent in France rose by 183pc compared to 2019, and 174pc in Spain
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Wealthy tourists from Gulf countries, such as Saudi Arabia and the UAE, have also cut spending in London, according to the data, which showed visits from Gulf Cooperation Council (GCC) countries rose 7pc in the three months to June but spending fell 17pc.
Meanwhile, GCC tourists’ spending in France and Italy rose by 118pc and 112pc respectively
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The discount – which previously allowed tourists to claim back the VAT paid on certain purchases such as upmarket clothes – was scrapped in 2021 in the wake of Brexit.
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Liz Truss planned to reinstate VAT-free shopping when she was Prime Minister, but this was quickly reversed once Jeremy Hunt took over as Chancellor after the mini-budget in September.
https://sg.finance.yahoo.com/news/us-sho...59700.html
Mon, 14 August 2023 at 6:14 pm SGT
American shoppers are shunning London in favour of European cities such as Paris, Milan and Madrid in the wake of Rishi Sunak’s controversial tourist tax, new data reveals.
The luxury boutiques and retailers of London’s West End, which have long been a draw for wealthy tourists, have seen a drop off in spending from US visitors despite increased footfall.
......
By contrast, the amount American shoppers spent in France rose by 183pc compared to 2019, and 174pc in Spain
......
Wealthy tourists from Gulf countries, such as Saudi Arabia and the UAE, have also cut spending in London, according to the data, which showed visits from Gulf Cooperation Council (GCC) countries rose 7pc in the three months to June but spending fell 17pc.
Meanwhile, GCC tourists’ spending in France and Italy rose by 118pc and 112pc respectively
......
The discount – which previously allowed tourists to claim back the VAT paid on certain purchases such as upmarket clothes – was scrapped in 2021 in the wake of Brexit.
......
Liz Truss planned to reinstate VAT-free shopping when she was Prime Minister, but this was quickly reversed once Jeremy Hunt took over as Chancellor after the mini-budget in September.
https://sg.finance.yahoo.com/news/us-sho...59700.html
