Post-Brexit duty-free shopping could earn Spain up to 2.6 billion euros from British tourists and non-EU visitors
Spain is hoping to capitalise on Brexit and boost shopping tourism by Brits in the country up to 2.6 billion euros a year. After the United Kingdom’s split from the European Union, British citizens can shop tax-free in EU countries, including Spain.
According to Luis Llorca, CEO of duty-free shopping brand Global Blue, Brits spend around 1.1 billion euros on tax-free holiday shopping every year, and it’s a market share that Spain is eager to be a part of. The country is also looking to earn part of the 1.5 billion euros that are spent by non-EU residents who previously made tax-exempt purchases in the UK but will now move their shopping holidays elsewhere in Europe.
Spain will have to compete with other European countries like Germany, France, Italy and Portugal to attract British and non-EU shopping tourists, but benefits from being the favourite holiday destination of people in the UK.
Source: Murcia Today