- \n
- New data from Global Blue reveals that the worldwide growth in Tax Free Shopping is positive across Continental Europe and Asia Pacific: Issued Sales in Store like-for-like year-on-year performance reached +21%1<\/sup> in November 2024.<\/b><\/li>\n<\/ul>\n
SIGNY, Switzerland–(BUSINESS WIRE<\/a>)–A sustained performance in Continental Europe for international shopping<\/b><\/p>\n
\nIn Continental Europe<\/b>, the issued Sales in Store increased by +16%1<\/sup> in November 2024 vs. last year, slightly ahead of October growth (+12%1<\/sup>). This growth was led by a +19%1<\/sup> increase in the number of shoppers and was slightly impacted by a softening of -3%1<\/sup> in the average spend per shopper, as a result of an overall inflation slowdown.<\/p>\n
\nWhen examining origin markets<\/b>, GCC shopper Tax Free Spend led the way at +33%1<\/sup> vs. last year, followed by US shoppers at +20%1<\/sup>.<\/p>\n
\nRegarding destination markets<\/b>, November showed a solid performance in Spain and Italy at +20%1<\/sup>, and France at +12%1<\/sup>.<\/p>\n
A solid Tax Free Spend performance in Asia Pacific<\/b><\/p>\n
\nIn Asia Pacific<\/b>, the issued Sales in Store growth reached +30%1 <\/sup>in November 2024, in line with October 2024 (+29%1<\/sup>), led by a +31%1<\/sup> increase in the number of shoppers and a -1%1<\/sup> decrease in the average spend per shopper.<\/p>\n
\nWhen examining origin markets<\/b>, the positive momentum in issued Sales in Store growth continued across most nationalities. Mainland Chinese Tax Free Spend led with a +54%1<\/sup> increase, driven by a +84%1<\/sup> rise in the number of shoppers. Hong Kong and Taiwan Tax Free Spend experienced a rise of +9%1<\/sup> vs. last year while North East Asia Tax Free Spend softened by -4%1<\/sup> vs. last year. Regarding destination markets<\/b>, November showed a strong performance across destinations, with South Korea at +48%1<\/sup>, Japan at +34%1<\/sup>, and Singapore at +8%1<\/sup>.<\/p>\n
Worldwide Year-on-Year Growth Rate (2024 vs. 2023)<\/b><\/p>\n
\n
\n \n Issued SIS L\/L<\/b><\/p>\n
Year-on-Year Growth<\/b><\/p>\n<\/td>\n
\n Destination market weight in Issued SIS 2023<\/b><\/p>\n<\/td>\n
\n November<\/b><\/p>\n
2024<\/b><\/p>\n<\/td>\n
\n October<\/b><\/p>\n
2024<\/b><\/p>\n<\/td>\n
\n September<\/b><\/p>\n
2024<\/b><\/p>\n<\/td>\n
\n \n\u00a0CY<\/b><\/p>\n
Q3 2024<\/b><\/p>\n<\/td>\n
\n CY<\/b><\/p>\n
Q2 2024<\/b><\/p>\n<\/td>\n
\n \n\u00a0CY<\/b><\/p>\n
Q1 2024<\/b><\/p>\n<\/td>\n<\/tr>\n
\n \n \nFrance<\/p>\n<\/td>\n
\n \n19%<\/p>\n<\/td>\n
\n \n+12%<\/p>\n<\/td>\n
\n \n+10%<\/p>\n<\/td>\n
\n \n+7%<\/p>\n<\/td>\n
\n \n+2%<\/p>\n<\/td>\n
\n \n+10%<\/p>\n<\/td>\n
\n \n+11%<\/p>\n<\/td>\n<\/tr>\n
\n \n \nItaly<\/p>\n<\/td>\n
\n \n17%<\/p>\n<\/td>\n
\n \n+20%<\/p>\n<\/td>\n
\n \n+15%<\/p>\n<\/td>\n
\n \n+17%<\/p>\n<\/td>\n
\n \n+16%<\/p>\n<\/td>\n
\n \n+22%<\/p>\n<\/td>\n
\n \n+29%<\/p>\n<\/td>\n<\/tr>\n
\n \n \nSpain<\/p>\n<\/td>\n
\n \n11%<\/p>\n<\/td>\n
\n \n+20%<\/p>\n<\/td>\n
\n \n+21%<\/p>\n<\/td>\n
\n \n+24%<\/p>\n<\/td>\n
\n \n+24%<\/p>\n<\/td>\n
\n \n+33%<\/p>\n<\/td>\n
\n \n+32%<\/p>\n<\/td>\n<\/tr>\n
\n \n \nGermany<\/p>\n<\/td>\n
\n \n6%<\/p>\n<\/td>\n
\n \n+6%<\/p>\n<\/td>\n
\n \n-5%<\/p>\n<\/td>\n
\n \n-3%<\/p>\n<\/td>\n
\n \n+5%<\/p>\n<\/td>\n
\n \n+2%<\/p>\n<\/td>\n
\n \n+6%<\/p>\n<\/td>\n<\/tr>\n
\n \n \nOther countries<\/p>\n<\/td>\n
\n \n18%<\/p>\n<\/td>\n
\n \n+16%<\/p>\n<\/td>\n
\n \n+11%<\/p>\n<\/td>\n
\n \n+7%<\/p>\n<\/td>\n
\n \n+10%<\/p>\n<\/td>\n
\n \n+21%<\/p>\n<\/td>\n
\n \n+16%<\/p>\n<\/td>\n<\/tr>\n
\n \n Total Continental Europe<\/b><\/p>\n<\/td>\n
\n 71%<\/b><\/p>\n<\/td>\n
\n +16%<\/b><\/p>\n<\/td>\n
\n +12%<\/b><\/p>\n<\/td>\n
\n +11%<\/b><\/p>\n<\/td>\n
\n +11%<\/b><\/p>\n<\/td>\n
\n +19%<\/b><\/p>\n<\/td>\n
\n +19%<\/b><\/p>\n<\/td>\n<\/tr>\n
\n \n \nJapan<\/p>\n<\/td>\n
\n \n18%<\/p>\n<\/td>\n
\n \n+34%<\/p>\n<\/td>\n
\n \n+32%<\/p>\n<\/td>\n
\n \n+23%<\/p>\n<\/td>\n
\n \n+57%<\/p>\n<\/td>\n
\n \n+172%<\/p>\n<\/td>\n
\n \n+137%<\/p>\n<\/td>\n<\/tr>\n
\n \n \nSingapore<\/p>\n<\/td>\n
\n \n8%<\/p>\n<\/td>\n
\n \n+8%<\/p>\n<\/td>\n
\n \n+16%<\/p>\n<\/td>\n
\n \n-2%<\/p>\n<\/td>\n
\n \n-3%<\/p>\n<\/td>\n
\n \n-1%<\/p>\n<\/td>\n
\n \n25%<\/p>\n<\/td>\n<\/tr>\n
\n \n \nSouth Korea<\/p>\n<\/td>\n
\n \n2%<\/p>\n<\/td>\n
\n \n+48%<\/p>\n<\/td>\n
\n \n+42%<\/p>\n<\/td>\n
\n \n+45%<\/p>\n<\/td>\n
\n \n+42%<\/p>\n<\/td>\n
\n \n+60%<\/p>\n<\/td>\n
\n \n110%<\/p>\n<\/td>\n<\/tr>\n
\n \n Total Asia Pacific<\/b><\/p>\n<\/td>\n
\n 28%<\/b><\/p>\n<\/td>\n
\n +30%<\/b><\/p>\n<\/td>\n
\n +29%<\/b><\/p>\n<\/td>\n
\n +19%<\/b><\/p>\n<\/td>\n
\n +40%<\/b><\/p>\n<\/td>\n
\n +109%<\/b><\/p>\n<\/td>\n
\n 97%<\/b><\/p>\n<\/td>\n<\/tr>\n
\n \n Total Latin America<\/b><\/p>\n<\/td>\n
\n 1%<\/b><\/p>\n<\/td>\n
\n +34%<\/b><\/p>\n<\/td>\n
\n +32%<\/b><\/p>\n<\/td>\n
\n +19%<\/b><\/p>\n<\/td>\n
\n +23%<\/b><\/p>\n<\/td>\n
\n -2%<\/b><\/p>\n<\/td>\n
\n +9%<\/b><\/p>\n<\/td>\n<\/tr>\n
\n \n Total worldwide<\/b><\/p>\n<\/td>\n
\n 100%<\/b><\/p>\n<\/td>\n
\n +21%<\/b><\/p>\n<\/td>\n
\n +17%<\/b><\/p>\n<\/td>\n
\n +13%<\/b><\/p>\n<\/td>\n
\n +19%<\/b><\/p>\n<\/td>\n
\n +41%<\/b><\/p>\n<\/td>\n
\n 40%<\/b><\/p>\n<\/td>\n<\/tr>\n<\/table>\n
Worldwide Recovery Rate (versus 2019)<\/b><\/p>\n
\n
\n Issued SIS L\/L<\/b><\/p>\n recovery<\/b><\/p>\n
(in % of 2019)<\/b><\/p>\n<\/td>\n
\n Destination market weight in Issued SIS 2019<\/b><\/p>\n<\/td>\n
\n November<\/b><\/p>\n
2024<\/b><\/p>\n<\/td>\n
\n October<\/b><\/p>\n
2024<\/b><\/p>\n<\/td>\n
\n September<\/b><\/p>\n
2024<\/b><\/p>\n<\/td>\n
\n CY<\/b><\/p>\n
Q3 2024<\/b><\/p>\n<\/td>\n
\n CY<\/b><\/p>\n
Q2 2024<\/b><\/p>\n<\/td>\n
\n CY<\/b><\/p>\n
Q1 2024<\/b><\/p>\n<\/td>\n<\/tr>\n
\n \n \nFrance<\/p>\n<\/td>\n
\n \n16%<\/p>\n<\/td>\n
\n \n154%<\/p>\n<\/td>\n
\n \n150%<\/p>\n<\/td>\n
\n \n158%<\/p>\n<\/td>\n
\n \n144%<\/p>\n<\/td>\n
\n \n164%<\/p>\n<\/td>\n
\n \n165%<\/p>\n<\/td>\n<\/tr>\n
\n \n \nItaly<\/p>\n<\/td>\n
\n \n17%<\/p>\n<\/td>\n
\n \n147%<\/p>\n<\/td>\n
\n \n144%<\/p>\n<\/td>\n
\n \n155%<\/p>\n<\/td>\n
\n \n146%<\/p>\n<\/td>\n
\n \n156%<\/p>\n<\/td>\n
\n \n123%<\/p>\n<\/td>\n<\/tr>\n
\n \n \nSpain<\/p>\n<\/td>\n
\n \n10%<\/p>\n<\/td>\n
\n \n171%<\/p>\n<\/td>\n
\n \n158%<\/p>\n<\/td>\n
\n \n169%<\/p>\n<\/td>\n
\n \n161%<\/p>\n<\/td>\n
\n \n164%<\/p>\n<\/td>\n
\n \n151%<\/p>\n<\/td>\n<\/tr>\n
\n \n \nGermany<\/p>\n<\/td>\n
\n \n9%<\/p>\n<\/td>\n
\n \n79%<\/p>\n<\/td>\n
\n \n66%<\/p>\n<\/td>\n
\n \n79%<\/p>\n<\/td>\n
\n \n75%<\/p>\n<\/td>\n
\n \n80%<\/p>\n<\/td>\n
\n \n65%<\/p>\n<\/td>\n<\/tr>\n
\n \n \nOther countries<\/p>\n<\/td>\n
\n \n19%<\/p>\n<\/td>\n
\n \n134%<\/p>\n<\/td>\n
\n \n121%<\/p>\n<\/td>\n
\n \n127%<\/p>\n<\/td>\n
\n \n126%<\/p>\n<\/td>\n
\n \n132%<\/p>\n<\/td>\n
\n \n126%<\/p>\n<\/td>\n<\/tr>\n
\n \n Total Continental Europe<\/b><\/p>\n<\/td>\n
\n 71%<\/b><\/p>\n<\/td>\n
\n 138%<\/b><\/p>\n<\/td>\n
\n 131%<\/b><\/p>\n<\/td>\n
\n 141%<\/b><\/p>\n<\/td>\n
\n 133%<\/b><\/p>\n<\/td>\n
\n 143%<\/b><\/p>\n<\/td>\n
\n 128%<\/b><\/p>\n<\/td>\n<\/tr>\n
\n \n \nJapan<\/p>\n<\/td>\n
\n \n14%<\/p>\n<\/td>\n
\n \n296%<\/p>\n<\/td>\n
\n \n293%<\/p>\n<\/td>\n
\n \n243%<\/p>\n<\/td>\n
\n \n290%<\/p>\n<\/td>\n
\n \n327%<\/p>\n<\/td>\n
\n \n232%<\/p>\n<\/td>\n<\/tr>\n
\n \n \nSingapore<\/p>\n<\/td>\n
\n \n11%<\/p>\n<\/td>\n
\n \n86%<\/p>\n<\/td>\n
\n \n87%<\/p>\n<\/td>\n
\n \n74%<\/p>\n<\/td>\n
\n \n81%<\/p>\n<\/td>\n
\n \n92%<\/p>\n<\/td>\n
\n \n92%<\/p>\n<\/td>\n<\/tr>\n
\n \n \nSouth Korea<\/p>\n<\/td>\n
\n \n3%<\/p>\n<\/td>\n
\n \n173%<\/p>\n<\/td>\n
\n \n163%<\/p>\n<\/td>\n
\n \n163%<\/p>\n<\/td>\n
\n \n162%<\/p>\n<\/td>\n
\n \n158%<\/p>\n<\/td>\n
\n \n125%<\/p>\n<\/td>\n<\/tr>\n
\n \n Total Asia Pacific<\/b><\/p>\n<\/td>\n
\n 28%<\/b><\/p>\n<\/td>\n
\n 198%<\/b><\/p>\n<\/td>\n
\n 191%<\/b><\/p>\n<\/td>\n
\n 162%<\/b><\/p>\n<\/td>\n
\n 186%<\/b><\/p>\n<\/td>\n
\n 226%<\/b><\/p>\n<\/td>\n
\n 166%<\/b><\/p>\n<\/td>\n<\/tr>\n
\n \n Total Latin America<\/b><\/p>\n<\/td>\n
\n 1%<\/b><\/p>\n<\/td>\n
\n 110%<\/b><\/p>\n<\/td>\n
\n 132%<\/b><\/p>\n<\/td>\n
\n 142%<\/b><\/p>\n<\/td>\n
\n 104%<\/b><\/p>\n<\/td>\n
\n 101%<\/b><\/p>\n<\/td>\n
\n 94%<\/b><\/p>\n<\/td>\n<\/tr>\n
\n \n Total worldwide<\/b><\/p>\n<\/td>\n
\n 100%<\/b><\/p>\n<\/td>\n
\n 155%<\/b><\/p>\n<\/td>\n
\n 146%<\/b><\/p>\n<\/td>\n
\n 146%<\/b><\/p>\n<\/td>\n
\n 145%<\/b><\/p>\n<\/td>\n
\n 165%<\/b><\/p>\n<\/td>\n
\n 140%<\/b><\/p>\n<\/td>\n<\/tr>\n<\/table>\n
APPENDIX<\/b><\/p>\n
GLOSSARY<\/b><\/p>\n
\n– European Non-EU countries include: Shoppers who can reach destination by land transportation or less than a two hour flight. Ex: Swiss, British, Ukraine etc.
\n
– Gulf Cooperation Council countries include: Kuwait, Qatar, Saudi Arabia, United Arab Emirates, Bahrain, Oman
\n
– North East Asia countries includes: Japan, South Korea
\n
– South East Asia countries includes: Indonesia, Thailand, Cambodia, Philippines, Vietnam, Malaysia, Singapore<\/p>\nABOUT GLOBAL BLUE<\/b><\/p>\n
\nGlobal Blue is the business partner for the shopping journey, providing technology and services to enhance the experience and drive performance.<\/p>\n
\nWith over 40 years of expertise, today we connect thousands of retailers, acquirers, and hotels with nearly 80 million consumers across 53 countries, in three industries: Tax Free Shopping, Payments and Post-Purchase solutions.<\/p>\n
\nWith over 2,000 employees, Global Blue generated \u20ac28bn Sales in Store and \u20ac422M revenue in FY 2023\/24. Global Blue is listed on the New York Stock Exchange.<\/p>\n
\nFor more information, please visit www.globalblue.com<\/a><\/p>\n
Global Blue Monthly Intelligence Briefing, November 2024, <\/i>Source: Global Blue<\/p>\n
1<\/sup>Growth rate variation year-on-year (2024 vs. the same period in 2023)<\/i><\/p>\n
<\/p>\n
View source version on businesswire.com: <\/span>https:\/\/www.businesswire.com\/news\/home\/20241206507185\/en\/<\/a><\/span><\/p>\n
MEDIA
\n<\/b>
Virginie Alem \u2013 SVP Marketing & Communications
\n
Mail: valem@globalblue.com<\/a><\/p>\nINVESTOR RELATIONS
\n<\/b>
Frances Gibbons \u2013 Head of Investor Relations
\n
Mob: +44 (0)7815 034 212
\n
Mail: fgibbons@globalblue.com<\/a><\/p>\nKEYWORDS:<\/b> Switzerland Europe<\/p>\n
INDUSTRY KEYWORDS:<\/b> Technology Payments Other Retail Business Professional Services Other Travel Retail Destinations Travel<\/p>\n
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<\/td>\n<\/tr>\n