
Steady Growth in Continental Europe for International Shopping
In October 2024, international shopping in Continental Europe saw steady growth, with Sales in Store rising by +12% compared to the previous year. This increase was largely driven by a +14% growth in shopper numbers, though a slight decline of -2% in average spend per shopper occurred, likely due to slowing inflation.
Growth varied by origin market, with Gulf Cooperation Council (GCC) shoppers leading at +29% in Tax-Free Spend, followed by Mainland Chinese at +15%, and U.S. shoppers at +10%. Among destination markets, Spain and Italy performed particularly well, with Tax-Free Spend rising +21% and +15%, respectively, while France returned to pre-Olympics levels at +10%.
Moderation in Asia Pacific’s Hyper-Growth
In Asia Pacific, Sales in Store rose by +29% in October, fueled by a +32% increase in shoppers, though average spend per shopper decreased by -2%. This growth rate exceeded September’s +19%, largely due to a weaker Yen against the Chinese RMB.
Mainland Chinese shoppers led with a +50% increase in Tax-Free Spend, bolstered by a +76% rise in visitor numbers, driven by Golden Week demand in Japan and Singapore. Other notable gains included North East Asia at +17%, though spending from Hong Kong and Taiwan softened by -2%.
Top-performing destination markets in October included South Korea at +42%, Japan at +32%, and Singapore at +16%.
Worldwide Year-on-Year Growth Overview (2024 vs. 2023)
Region | October 2024 | September 2024 | Q3 2024 | Q2 2024 | Q1 2024 |
---|---|---|---|---|---|
France | +10% | +7% | +2% | +10% | +11% |
Italy | +15% | +17% | +16% | +22% | +29% |
Spain | +21% | +24% | +24% | +33% | +32% |
Germany | -5% | -3% | +5% | +2% | +6% |
Total Europe | +12% | +11% | +11% | +19% | +19% |
Japan | +32% | +23% | +57% | +172% | +137% |
Singapore | +16% | -2% | -3% | -1% | +25% |
South Korea | +42% | +45% | +42% | +60% | +110% |
Total Asia Pacific | +42% | +19% | +40% | +109% | +97% |
Latin America | +32% | +19% | +23% | -2% | +9% |
Worldwide Total | +17% | +13% | +19% | +41% | +40% |
Global Recovery Rate (Compared to 2019)
Region | October 2024 | September 2024 | Q3 2024 | Q2 2024 | Q1 2024 |
---|---|---|---|---|---|
France | 150% | 158% | 144% | 164% | 165% |
Italy | 144% | 155% | 146% | 156% | 123% |
Spain | 158% | 169% | 161% | 164% | 151% |
Germany | 66% | 79% | 75% | 80% | 65% |
Total Europe | 131% | 141% | 133% | 143% | 128% |
Japan | 293% | 243% | 290% | 327% | 232% |
Singapore | 87% | 74% | 81% | 92% | 92% |
South Korea | 163% | 163% | 162% | 158% | 125% |
Total Asia Pacific | 191% | 162% | 186% | 226% | 166% |
Latin America | 132% | 142% | 104% | 101% | 94% |
Worldwide Total | 146% | 146% | 145% | 165% | 140% |
About Global Blue
Global Blue connects retailers, acquirers, and hotels with nearly 80 million shoppers across 53 countries, providing solutions for Tax-Free Shopping, Payments, and Post-Purchase services. Listed on the New York Stock Exchange, Global Blue recorded €28 billion in Sales in Store in FY 2023/24.
For more details, visit www.globalblue.com.