Countries with a strong luxury fashion heritage remain the best performers of the European Tax Free ShoppingA number of countries offer VAT/GST refunds to international... More market. Yet, it is Mediterranean countries such as Greece, Turkey, Spain and Portugal which experienced the strongest growth over the past 5 years. In the case of Greece, the country posts +20% of Tax Free ShoppingA number of countries offer VAT/GST refunds to international... More spend CAGR growth over the past 5 years, the second best performance out of all countries observed, after Turkey.

These findings were presented by Laurent Delmas, Global Blue COO South Europe, in Athens on May 8th during which he also discussed the many opportunities to boost Greece’s potential as a must-visit shopping destination in Europe:

1.Increase Chinese shoppers’ spend: Greece currently captures 22% of Elite and Frequent globe shoppersFrequent Globe Shoppers is a term coined by Global Blue to d... More spend travelling to Europe. The opening of new direct air routes would improve

2.Capture Elite travellers’ potential: Elite travellers coming to Greece are most often Chinese and Russians. Greece Tax Free ShoppingA number of countries offer VAT/GST refunds to international... More landscape shows that there is room to develop a luxury retail segment in the country.

3.Maximize existing travellers’ spend: 92% of international travellers entering the country only visit one region. Promoting Greece as a multi-regional destination would entice further travellers’ interest in the country and spread their spending to new destination.

4.Benefit from Brexit opportunity: British travellers are the 2nd largest nationality visiting the country. Global Blue expects Greece Tax Free ShoppingA number of countries offer VAT/GST refunds to international... More spend to go up +15% if British travellers become eligible to VAT.