Chinese travelers are still number one when it comes to tax-free shopping, according to the latest study by Global Blue.
With a reputation as the world’s biggest spenders, Chinese travelers continue to be the most coveted.
Increasing their transactions by nearly one third, Chinese tourists accounted for 27 percent of spending, reports Bloomberg. Though Russians made the most transactions, they came in second place, accounting for 17 percent of tax-free spending.
Last year, spending by Chinese tourists increased 20 percent after tripling between 2009 and 2012. Fashion was the most popular spending category, and France was the favorite spending destination, followed by Germany and Singapore.
Spending by Chinese travelers shows no signs of slowing, as Global Blue estimates that Chinese outbound trips, not including Hong Kong and Macau, will increase to 60 million this year, up from 53 million in 2013. By 2016, Global Blue estimates that Chinese outbound trips will increase to 77 million.
The study was based on tax-free transactions that were refunded by Global Blue and then approved by customs, not the value of refunds issued by retailers, which would have been higher. The company operates in 37 countries and estimates that the global tax-refund market is worth 48 billion euros in the countries in which it operates.
image credit: chinese tourists