Chinese travellers top the UK Global Blue tax free shopping league

Global Blue Delivers Record 40% Growth Global Blue handled more than 22 million traveller transactions during past 12 months, up 33% from previous year
By: Katie Blake
 
Aug. 1, 2011 - PRLog -- London, UK, July 18, 2011 – Global Blue, the experts in international shopping and spending today reports on its “best ever” year-end results for the fiscal year ended March 31, 2011. The financial services company, owned by Barclays Private Equity, grew its turnover by 40% to EUR 325 million. EBITDA increased by 98% to EUR 67 million.

Per Setterberg, CEO of Global Blue, commented: “Despite a very tough economic climate, Global Blue delivered impressive year-on-year turnover growth of more than 40%; this was driven by efficient and hassle-free tax refunds, innovative digital services, insightful and unique market intelligence and innovative new marketing initiatives. We continue to invest in products and services aimed at maximising value for our business partners and international travellers. I am confident in my team’s ability to continue to deliver strong growth in 2011.”

Company Highlights (growth compared to previous fiscal year April 1 2009 – March 31 2010)
•   Turnover increase of 40 percent to EUR 325 million
•   EBITDA increase of 98 percent to EUR 67 million
•   Total transactions increase of 33%  to more than 22 million
o   16.3 million Tax Free Shopping transactions were made in 2010, up 29% on 2009
o   5.7 million Currency Choice (dynamic currency conversion by Global Blue) transactions were made in 2010, up 42% on 2009
•   International travellers and the amounts they are spending on destination shopping grew strongly, particularly amongst travellers from Brazil, China, Indonesia and Russia.

Global Traveller Statistics
•   For the first time, travellers from China generated the most Tax Free Shopping (VAT/GST refund service provided by Global Blue) sales. Top five nationalities:
1.   China
2.   Russia
3.   Japan
4.   United States
5.   Indonesia
•   Chinese travellers spent EUR 1.3 billion in 2010, up 95% from 2009.


•   The Top 5 destination countries for Tax Free Shopping sales are:
1.   France (19%)
2.   UK (15%)
3.   Italy (15%)
4.   Singapore (12%)
5.   Germany (12%).

UK Traveller Statistics
•   Globally UK is Global Blue’s 4th largest market for Tax Free Shopping, and the total number of UK Tax Free Shopping transactions grew by 26% compared to 2009.
•   Travellers from China generated the most Tax Free Shopping sales in the UK.
•   Top five nationalities for the UK:
1.   China
2.   Middle East
3.   Russia
4.   Nigeria
5.   United States
•   Chinese travellers spend for 2010 is up 82% from 2009.
•   Chinese travellers spent on average GBP 605 in 2010.
•   Middle East travellers spend is up 15% from 2009.
•   Middle East travellers spent on average GBP 703 in 2010.
•   Key Tax Free Shopping sales grew also for Russia (20%), Brazil (64%), and India (36%) compared to 2009.

About Global Blue
Global Blue is a financial services company that makes retail transactions between merchants and their foreign customers, easier and more rewarding for everyone. Having invented the concept of Tax Free Shopping thirty years ago, Global Blue now offers a wide range of services that help consumers shop and spend wisely when they are in foreign countries, and merchants and banks increase their revenues from the lucrative traveller market.

Global Blue works with over 270,000 of the world’s favourite retailers, shopping brands and hotels in over 40 countries; Global Blue serves in excess of 60,000 travellers each and every day. The company’s ambition is to become the beacon for international shopping and spending across the globe.

Global Blue’s headquarters are in Nyon, close to Geneva, Switzerland. More information about Global Blue is available at http://www.global-blue.com/corporate

Press contacts:
Marie Bergfelt                        Fiona McKenzie
Corporate Communications   Account Director
Global Blue Holdings AB   Rain Communications
Box 200 - Östergårdsgatan 7    1st Floor - 54-55 Wilton Road
431 23 Mölndal, Sweden    London, SW1V 1DE
mbergfelt@global-blue.com    GlobalBlue@raincommunications.co.uk
Phone: +46 708 510033   Phone : +44 (0)20 7828 0118
End
Source:Katie Blake
Email:***@raincommunications.co.uk Email Verified
Tags:Chinese Shopping London, Chinese Shopping Habits, Chinese Shoppers, China Visa
Industry:Shopping, Retail
Location:London City - London, Greater - England
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