4 February 2020
The Weekly

The UK is the second most popular shopping destination in the world for super-rich internationla shoppers, with visitors spending up to €35,000 each with luxury British retailers, according to the latest research. Britain attracts 31% of international ‘elite shoppers’, second only to France which took a 36% share last year. Super-rich visitors to the UK spend €35,000 on average – the highest average spend of all European countries. Visitors from Gulf countries make up 30% of the number of elite shoppers coming to the UK, with an average stay of 14 days compared to just three days in France or Italy, while Chinese tourists account for 27%. London’s luxury department stores – such as Selfridges, Harrods and Liberty – are a big draw for tourists from Gulf countries who make 85% of their purchases there. Meanwhile, 46% of department store spend by the world’s wealthiest shoppers is on watches and jewellery, followed by 25% on fashion items. Chinese shoppers account for the largest number of Elite shoppers globally, at nearly 40%, followed by South East Asia at 15%, the Gulf Countries at 14% and the US and Russia, both at 6%. Elite shoppers made up 24% of all tax-free shopping in the UK last year, compared to a global average of 17%.