Research by the New West End Company shows that the removal of tax-free shopping for international visitors led to £640 million in lost sales in London's West End last year. This figure increased from £400 million in 2023, emphasizing the negative impact of government policy changes. While domestic spending decreased, international spending saw a rise, particularly from tourists from Germany, the USA, and Saudi Arabia. The change has put London at a competitive disadvantage compared to European cities that still offer VAT-free shopping.
"With international spend still below pre-pandemic levels, the UK's lack of a robust tourism strategy and the removal of VAT-free shopping put London at a competitive disadvantage..."
"The revenue lost from tourist spending increased from £400 million in 2023, highlighting the ongoing impact of the government's policy change."
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