Global Refund Index March results: Russian and Chinese consumers most positive

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The table below shows the latest travel shopping trends for the ten major nationalities in the countries of the Global Refund system-consisting of most EU countries, South Korea, Singapore and Argentina. Exclusive to travelretailworld.com.

As flagged in previous months trends there are some negative consumer factors emerging. The 'off-peak season' for Japanese travel shoppers in March, which traditionally attracts more Japanese shoppers to Europe on cheap tour packages, appeared to be lower than previous years. However Global Refund said it does not expect this to be so for the rest of the year. Japanese expenditure increased 2% in March over March 2000, much less than the market average. The depressed exchange rate of the yen, currently standing at 12% lower than its 2000 dollar value, is one reason for this. Only Indonesian spending actually decreased, by 19% from last year's level in March, which affected travel-retailers negatively in Singapore.

Expenditure by Russian tourists accelerated its steady recovery and this segment had a sales increase of 32% to reach 7% of all sales in the tax-refund system. Similarly mainland Chinese tourist spending leapt 74% year-on-year in March and China rose to become the sixth most important country ranked by total spending. Spending by East European nationalities also showed high growth, by 44% year-on-year in March in the case of Croatian visitors, but declining from last year's levels and volatile from one month to the next.

Meanwhile some features of the US traveller market have become clearer. Although expenditure continued to rise by 18% in March, this represents a slowing down. US visitors appear to be travelling more domestically and re-routing away from the UK in particular, on their European tours. The slow-down of the US economy has emerged as a much bigger influencer than the foot-and-mouth scare in Europe and this is confirmed by statements from the US travel trade. Although the disease has had a more narrow effect in the case of UK as well as Ireland.

For more detailed statisics covering last year in full and information about the Global Refund tax reclaim service for retailers see the homepage feature 'Global Refund Index: 2000 report and analysis'.