Shopping has become one of the largest and most important components in international tourism and is one of the significant sources of income for national economies both directly and through the many linkages to other sectors in the economy.
Shopping has converted into a determinant factor affecting destination choice, an important component of the overall travel experience and, in many cases the prime travel motivation.
According to the World Tourism Organisation, over the past 10 years, shopping tourism has experienced an increase in the number of international tourists and visitors travelling to indulge in more retail activities. Taking advantage of this growth, countries are now focusing on promoting themselves as a shopping tourism destination and implementing the tools needed to meet the growing needs of these affluent shopping tourists.
The boom in the global retail sector will see steady growth over the coming years and in 2018, worldwide retail sales are predicted to increase 5.5% to reach $28.3 trillion.
Of the 5 most common things travellers are willing to spend more on as an indulgence, shopping tourism ranked 4th overall with 35% of the total tourist activity count.
Shopping tourism is intimately related to city travel.
58% of business travellers add a day or even a weekend to their business trip.
Shopping tourism is an important factor for travellers when choosing their trip and destination.
Small and local shopping experiences are much more attractive for travellers than the big global brands.
Shopping tourism is the primary focus of leading urban destinations worldwide, as it multiplies the impact of tourism on the economy and employment.
Non-EU tourists generate the most income in shopping tourism. Spending on shopping is four times higher than for EU residents, and seven times the national average. Tourists from Asian countries have significantly higher average sales receipt amounts. *
Saudi Arabia and the United Arab Emirates have purchase receipts higher than the average. *
Growth forecasts for international tourism are exceptional. The World Tourism Organization estimates that in 2030, the number of international tourists will reach 1,800 million (2014: 1,133 million).
Asian countries lead in terms of source market growth: forecasts are for 5% annually, and an average of 17 million international tourists every year.
Ease of accessibility, transport and safety are important factors for shopping tourists when choosing destinations.
The main elements which attract tourists to luxury destinations are culture, shopping, and gastronomy. Entertainment options, cultural events, and other activities are factors which attract and create loyalty with tourists who shop. **
*Source: Global Blue
**Source: The IE MasterCard Premium and Prestige Products Market Observatory
Global Top 20 cities broken down by international tourism expenditure in 2015
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An unmissable opportunity exists for global destinations to benefit from this booming market trend by developing unique shopping experiences to grow inbound international tourism arrivals. Destinations have an immense opportunity to leverage this new market trend by developing authentic and unique shopping experiences that add value to their touristic offer while reinforcing, and even, defining their tourism brand and positioning.
The World Shopping Tourism Summit delivers a global shopping tourism trade audience with the biggest international trade buyers delivered directly to your stand.
By participating at The World Shopping Tourism Summit you will benefit from:
Access to the largest ever global gathering of hosted shopping tourism facilitators
Networking with international shopping tourism professionals exclusively interested in developing shopping tourism opportunities
Maximising your short and long term revenue generation opportunities by meeting elite VIP shopping tourism hosted buyers from around the world