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Paseo de Gracia, the most attractive shopping street for non-EU tourists
A study by Global Blue highlights Barcelona as the “luxury destination” par excellence, accounting for nearly half (47%) of sales to visitors from outside the EU.
There’s no doubt that Paseo de Gracia is one of the most important luxury commercial areas of Spain, and so is confirmed once again by the Global Blue study, the first international operator of Tax Free, with over 35 million VAT returns per year. The report reveals that its jewelry shops and boutiques amounted for the 29% of total sales of luxury goods in the country, followed at some distance by those located in the exclusive Salamanca district of Madrid, with 16%. Paseo de Gracia and the Golden Mile of Madrid <i<accumulate together 45% of total domestic sales in this sector.
The presented study states that non-EU tourists spend during their stay up to ten times more than Europeans. The kind of customer they manage to seduce are mostly Chinese tourists with an average ticket close to 1,000 euros for purchase, and who opt for jewelry products and watches. Very close to them are South Americans, Americans and Moroccans. On the other hand, the Russians are still recovering from the devaluation of its currency and for that reason a decline of 25% was registered in their investment in exclusive items.
Thus, Barcelona and Madrid, with other famous world capitals like Paris, London, Vienna, Milan and Munich, are the favorite destinations for visitors with high purchasing power, who think about shopping as a main touristic attraction, making their visits most profitable for the different points of sales.