Middle East tourists drive London’s retail recovery
New West End Company, which represents retailers in London’s most famous shopping streets – Bond Street, Oxford Street and Regent Street – today reports that Middle Eastern shoppers are set to spend more than £210million in the West End in 2011 with average spending to increase by 3.5%.
According to the annual GlobeShopper Calendar, the UAE and Saudi Arabia are expected to be among the most significant inbound shopper markets for London’s West End in 2011, with emerging retail tourists from Kuwait also boosting retail sales.
The Middle East is one of London’s highest spending visitor markets which has grown over 20% in the last five years. This summer in the Pre-Ramadan period over £210m (AED 1.3 billion) will be spent in London’s Luxury Quarter of Bond Street and Mayfair by visitors from UAE, Iran, Kuwait, Qatar and Saudi Arabia.
London Luxury, an initiative of New West End Company has launched London High Life exclusively at the 2011 Arabian Travel Market in Dubai. London Luxury is a new initiative in high net worth global shopper tourism to capitlalise on the growing trend of shopping tourism. It offers a programme of personalised shopping tours and unique shop and stay packaged with London’s most discerning hotels, retailers and restaurants.
A dedicated Luxury London privilege card and website in Arabic and English highlights an exclusive mix of privileges and luxury offers that money can’t buy from tea at Asprey in a private room to viewing Grace Kelly’s diary to Sir Winston Churchill’s suit block. www.londonluxuryquarter.com
Jace Tyrrell, Director of New West End Company said, “International shoppers are key to the ongoing West End retail recovery and success of London’s economy. Spending over £1,200 each on average compared to a UK shopper of £120, the Middle East and in particular visitors from the UAE are one of our most important inbound shopper markets. It is encouraging that numbers of international shoppers are set to grow by around 15% this year.”
“We have spent the last two years researching our key markets including the Middle Eastern visitor, understanding their stimulus to travel, shopping intentions and retail and leisure preferences from high street and luxury retail brands, hotels and cultural attractions.” adds Tyrrell.
Alongside the marketing campaign, New West End Company is lobbying UK government departments to simplify the visa process for long haul visitors. Reducing the cost and complexity of applying for a travel visa will make the UK more competitive with other European markets.
