19 04 04 - Portugal growing as a Tax Free Shopping destination in Europe

On April 3rd, Jacques Stern, Global Blue President & CEO, spoke at the Luxury Shopping Talks on the current challenges the luxury segment is facing in Portugal.

Portugal’s Tax Free Shopping performance for 2018 and its evolution over the last 5 years were presented, as well as the opportunities to position the country as a must-visit shopping destination in Europe.

  • Portugal records +12% of Tax Free Shopping spend CAGR growth over the past 5 years, twice as much as Europe.
  • Portugal is the preferred shopping destination for Portuguese-speaking  shoppers. They represent almost 60% of tax free spend in Portugal, but only 1% in the rest of Europe.
  • The luxury segment is the smallest share of Portugal’s Tax Free Shopping performance with only 13% of the total tax free spend, yet the segment posts the most important growth in 2018, +12.4%.

Click here to read the press release