Spend by Chinese visitors to the UK hits record level
The UK retail sector has seen a significant boost from Chinese tourism spend this summer according to figures from Visa Europe.
Analysis of spending by Chinese Visa cardholders shows a 44.5% increase in money spent in the UK in July, outstripping tourist spending by visitors from France and Australia. This means that visitors from China are the second highest spending tourists in the UK, behind those from the USA.
The figures show the growth in Chinese spending was driven primarily by trips to supermarkets, up 79% year-on-year, dining out, up 66%, and shopping on the high street, up 40%. Retail therapy remained the top holiday activity with £20 million spent on clothing at department stores and on the high street in July. This made up of 40% of Chinese overall holiday spend in the UK.
Despite strong growth seen in recent months, data from Visa Europe shows that the pace of growth in UK spending by Chinese tourists still trails behind Spain, Switzerland, Italy, France and Germany.
Visa Europe said this may shift in the coming months as more Chinese tourists take advantage of the UK’s new visa scheme.
Kevin Jenkins, UK & Ireland managing director of Visa Europe, said: “China is one of the fastest growing sources of tourism income for the UK and it looks set to become an important driver of growth for the sector. Spending on cards has seen a significant boost as Chinese tourists travel to the UK, confident in the use of plastic overseas.
“The simpler twin visa system for Chinese nationals already looks to have given a big summer boost to the UK’s retail and tourism industries. Going forward it will be interesting to see whether our data indicates a short-term boost or a genuine shift in Chinese tourism to the UK.”
