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Stores

Staff Reporter

, APAC

Published:

10 months ago

Photo by Pixabay: https://www.pexels.com/photo/aerial-photography-of-building-264507/

APAC tax-free shopping records strong recovery in December 2023

The recovery rate during the month stood at 151%.

The Asia Pacific region posted a steady recovery in tax-free shopping, up by 151% in December 2023, driven by the growth in Japan, according to data from Global Blue.

In a statement, Global Blue said the recovery is strong compared to the 149% recovery in October/November, and 134% in the third quarter of 2023.

In terms of origin markets, residents from Hong Kong and Taiwan saw a 512% recovery during the period, whilst travellers from North East Asia saw a recovery rate of 336%.

ALSO READ: China's border reopening spurs capital flow, tourism recovery in APAC cities

Japan, meanwhile, remains the driver of tax-free shopping in terms of destination markets with a recovery rate of 231% due to the weakened Japanese Yen.

Globally, Global Blue found that sales in-store like-for-like recovery was at 130%, also higher than the 125% recovery in October/November and 123% in the third quarter of 2023.

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