Global Blue Releases the Monthly Tax Free Shopping Business Update for July 2024
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Fresh data from
Global Blue reveals that the worldwide year-on-year variation in Tax Free Shopping growth remains positive across Continental Europe andAsia Pacific .
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Globally, when analyzing the year-on-year variation in Tax Free Shopping growth, the issued Sales in Store like-for-like year-on-year performance reached +25%1 in
July 2024 vs. +41%1 in Q2 (April – June 2024).
SIGNY,
In Continental
The deceleration in July’s growth rate (+12% in July vs. +19% in Q2) is largely due to
Regarding origin markets, the positive momentum in issued Sales in Store growth is evident across all nationalities. Mainland Chinese Tax Free Spend led with +33%1 vs. last year, a slight acceleration compared with the +31%1 progression in Q2. US Tax Free Spend saw a +15%1 increase, boosted by an increase of +20% in shoppers, while GCC shoppers experienced a +7%1 growth rate vs. 2023.
When examining destination markets, July showed a positive performance across most destinations, with
A positive Tax Free spend progression in
In
The deceleration in July’s growth rate (+64% in July vs. +109% in Q2) is partly due to a stronger basis of comparison in
Regarding origin markets, the positive momentum in issued Sales in Store growth continued across all nationalities. Mainland Chinese Tax Free Spend led with +97%1 boosted by an increase of +107% of Mainland Chinese shoppers. In the meantime, North-East Asia Tax Free Spend grew by +76%1 vs. 2023 and
When examining destination markets, July showed a positive performance across most destinations, with
Worldwide Year-on-Year Growth Rate (2024 vs. 2023)
Issued SIS L/L
|
Destination market
|
July
|
CY
|
CY
|
|
19% |
-2% |
+10% |
+11% |
|
17% |
+19% |
+22% |
+29% |
|
11% |
+25% |
+33% |
+32% |
|
6% |
+10% |
+2% |
+6% |
Other countries |
18% |
+12% |
+21% |
+16% |
Total Continental Europe |
71% |
+12% |
+19% |
+19% |
|
18% |
+103% |
+172% |
+137% |
|
8% |
-9% |
-1% |
25% |
|
2% |
+44% |
+60% |
110% |
Total |
28% |
+64% |
+109% |
97% |
Total |
1% |
+16% |
-2% |
+9% |
Total worldwide |
100% |
+25% |
+41% |
40% |
Worldwide recovery rate (versus 2019) rate
APPENDIX
Issued SIS L/L recovery (in % of 2019) |
Destination
|
July
|
CY Q2
|
CY Q1
|
|
16% |
136% |
164% |
165% |
|
17% |
146% |
156% |
123% |
|
10% |
162% |
164% |
151% |
|
9% |
75% |
80% |
65% |
Other countries |
19% |
129% |
132% |
126% |
Total Continental Europe |
71% |
133% |
143% |
128% |
|
14% |
344% |
327% |
232% |
|
11% |
85% |
92% |
92% |
|
3% |
165% |
158% |
125% |
Total |
28% |
215% |
226% |
166% |
Total |
1% |
89% |
101% |
94% |
Total worldwide |
100% |
151% |
165% |
140% |
GLOSSARY
- European Non-EU countries include: Shoppers who can reach destination by land transportation or less than a two hour flight. Ex: Swiss, British,
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- North East Asia countries includes:
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ABOUT
With over 40 years of expertise, today we connect thousands of retailers, acquirers, and hotels with nearly 80 million consumers across 53 countries, in three industries: Tax Free Shopping, Payments and Post-Purchase solutions.
With over 2,000 employees,
For more information, please visit www.globalblue.com
Global Blue Monthly Intelligence Briefing,
1 Growth rate variation year-on-year (2024 vs. the same period in 2023)
View source version on businesswire.com: https://www.businesswire.com/news/home/20240809695602/en/
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Mail: valem@globalblue.com
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Mail: fgibbons@globalblue.com
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