By S. Emmanuil
The tax free shopping sector in Greece – purchases linked with a return of VAT for consumers visiting from non-EU countries – continued to post an annual growth rate of roughly 20 percent, in terms of value of transactions, and up to 30 percent over the Jan-July 2018 period.
Chinese and US nationals comprised nearly half of the total number of tax free shopping sales, with Russian nationals, by comparison, falling from previous years’ totals, according to figures released by the Global Blue Hellas firm.
The paradox in the figure is that while tourist arrivals continue to increase on a yearly basis, the average daily spending per tourist continues to slide, with the decrease reaching 7.5 percent, based on the latest figures.
The average per diem spending for each tourist in 2017, however, was down a whopping 25 percent, compared to 2016. The latter development came in tandem with a reduction in the lowest minimum tax free sale set at 50 euros, from the previous 120 euros.
