New data from Global Blue shows that the dynamic recovery for Tax Free Shopping has continued to strengthen across Continental Europe and Asia Pacific.
In Continental Europe, issued sales in store like-for-like has a stabilized recovery at 106% in January vs. the same period in 2019. This strong recovery is despite an unfavorable basis of comparison due to the Orthodox New Year and the start of the Chinese New Year. US nationals continue to lead the recovery in the region.
In Asia Pacific, the dynamic recovery continues to propel, reaching 96% in January vs. the same period in 2019. Japan remains a leader in the region with a strong and steady recovery.
The reopening of China’s border on January 8 has led to a slight acceleration of the recovery from Mainland Chinese shoppers in both Continental Europe and Asia Pacific. However, a gradual return to 2019 levels is expected.