Why aren’t foreigners spending as much in the UK as they used to?

Conflict in other parts of the world is affecting the UK in more ways than you might think.

The amount of money spent by foreign visitors has fallen to the lowest level in 5 years, due to a drop in tourists from Russia and China.

Visitors from these countries are usually big spenders in the UK, but due to “political unrest and weakened home currencies” numbers have declined, according to retail specialist Global Blue.

Shoppers are “spending more per transaction but are making fewer purchases than they would have in the past”, Global Blue’s Gordon Clark told the Standard.

Tax-free spending is down by 4% since the start of the year, however, the amount spent by Chinese visitors is up by 8% so far this year. This compares to an average growth of 20% to 50% in previous years.

Russian tourists have spent 20% less in the UK since the Ukraine crisis.

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