Luxury retailers lament a ‘missed opportunity’ to steer tourists away from rivals by restoring VAT-free shopping
Luxury retailers said it was a “missed opportunity” to attract tourists to the UK.
High-end names like Harrods and Burberry wanted the reinstatement of VAT-free shopping for international tourists, which ended in January 2021.
But there was no mention of politics.
Loser: High-end names such as Harrods and Burberry had called on the Chancellor to restore VAT-free shopping for international tourists, which ended in January 2021
Tourism spending in Britain is only two-thirds of its pre-pandemic level, according to Global Blue, which specializes in VAT refunds.
Italy and Spain are much closer to returning to 2019 tourism spending levels, and in France they are spending more.
Steve Medway, of Knightsbridge and King’s Road Partnerships in London, said it was “a missed opportunity to reaffirm Britain’s pre-eminent status as a top international retail destination”.
Dee Corsi, managing director of New West End Company, said Jeremy Hunt “missed an opportunity to accelerate growth”.
