Tourists love to shop. Studies by the U.S. Travel Association and the Department of Commerce show that shopping and dining are the top two activities of travelers. In fact, travelers spend one-third of their total travel funds on retail purchases.
Shopping Tourism On the Rise
According to Ian Stazicker, tourism director – global marketing at Virtuoso partner Value Retail, shopping tourism account for 40 percent of global luxury spending. Value Retail operates nine Chic Outlet Shopping open-air designer villages outside European hubs such as Paris and Madrid, as well as one in China.
Retail tourism is growing so fast, says Stazicker, that “between 2008 and 2012 we have seen an increase in visitors of more than 43 percent to 30 million.” [Read more…]