Luxury drives 80% of tax free sales by 2024

17-04-25

The luxury sector has been the main driver of growth in shopping tourism in 2024, accounting for 80% of tax free sales worldwide. According to the report ‘Global Blue Insights 2025’, spending on high-end products increased by 29% over the previous year, consolidating tax free shopping as a strategic pillar for global retail.

Spain has positioned itself as the third European destination for tax free shopping, only behind France and Italy, and has experienced a 26% growth in this segment over the last year. Madrid and Barcelona are among the top ten European cities with the highest growth in sales to international tourists, with the Spanish capital standing out with a 163% increase in post-pandemic tax free spending.

The average expenditure of the international buyer has reached 1,500 euros per trip in 2024, despite the fact that luxury products have become 20% more expensive in the last five years. This increase is attributed to the recovery of international tourism, the increased purchasing power of non-EU travellers and the demand for premium shopping experiences.

Two buyer profiles stand out in this context: high-spenders, who represent 68% of tax-free purchases and whose spending can exceed 10,000 euros per buyer, and aspirational shoppers, who are more sensitive to price increases.

Digitalisation and premium and hyper-personalised offers are key trends for 2025. Tourists are demanding more personalised and convenient experiences, and retailers offering digital and immersive assistance are more likely to capture the attention of these travellers. Solutions such as the electronic issuance of VAT refund forms in-store, the DIVA digital validation system and the expansion of premium services such as VIP Lounges are key levers to improve the traveller experience and strengthen retailers' competitiveness.

Spain continues to consolidate its position as the preferred destination in the European Union for tourists from Latin America, surpassing France and Italy and capturing close to 50% of their spending. Argentina and Mexico are the main issuers of this tourist profile, with an average expenditure of 900 euros. In addition, sales to Chinese tourists in Spain have reached 61% of pre-pandemic levels, recovering at a higher rate than France and Italy.

The US market has shown a 295% recovery in sales compared to 2019, becoming a key nationality for retail in Spain. Their average spending has increased by 67%, reaching 1,600 euros per buyer, although their preferred destinations are still Italy and France.

As for visitors from the Persian Gulf, their recovery has been 195%, with an average spend of 2,300 euros, although it is still below the levels recorded in France and Italy.

Ainara Andueza, CEO of Global Blue Spain, stresses that ‘strengthening the country's commercial offer, the Spain Brand and the luxury ecosystem, as well as reinforcing investment in five-star hotels and consolidating its cultural and gastronomic offer, are key factors in attracting this profile of traveller’.

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