Amidst the European domestic market stagnation, Russian tourists become more and more vital source of income for luxury brands dealers. In Dubai, for example, they are now second most active buyers after the locals.
The Russians' expenses on high-end merchandise, first of all in Italy, France and the Middle East, are growing faster than those at home, note the industry experts. Tourists helped avoiding stagnation on the European luxury market. As a matter of fact, Russian tourists are saving the European market – this is the result of the recession in the euro-zone and the reduction of the Europeans' expenses on luxury items.
The Russians spend more than any other European tourists. This is a matter of their set of mind: they want to enjoy themselves and are not ready to stint, explains Greek Secretary General of Tourism, Mr. Anastasios Liaskos.
Russian citizens are second (after the Chinese) most active buyers of luxury goods in Europe, shows the data of a tax refund operator Global Blue. In 2012, the operator claims, the volume of purchases presented for tax refund went 31% up to around €1,44 billion. As per the Global Blue, about a half of Russian tourists wish to get back the VAT, so the actual turnover can be twice as much – about €2,9 billion. UNWTO estimates the Russians' expenses on outbound tourism at $43 billion, making Russia a part of the top-5. The ranking is headed by China with $102 billion spent on trips abroad.
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