Move Over China, The Middle East Are The New Big Spenders
A survey has shown that people from the Middle East are twice as likely to buy clothes and shoes as typical visitors. The number one big spender being Kuwaiti visitor, who are the most likely to buy items of clothing or shows, followed by people from Nigeria and closely trailing is people from Saudi Arabia according to the Financial Times.
A strong rise in spending has been found by those from the Middle East during Ramadan, escaping the head of their home countries by spending the holiday in London. Tourism is a significant part of London’s economy, the luxury retail experience provided by the stores of London is quickly becoming a tourist attraction. Shopping at Harrods is now considered one of the top activities for a British holiday.
On average a visit from the biggest spenders; Kuwait delivers £4,000 into the UK economy, and a visit from Quatar almost £3,000. This is a noteworthy difference to a French visitor who will spend on average only £343 pounds.
Overall the tourism business is essential to keeping the UK economy thriving with international visitors spending over £4.5 billion pounds in British shops in 2012, which is a quarter of the total expenditure by foreign tourists that year alone.
Words Dana Rutner