London retailers count cost of 'tourist tax' as sales fall by 220m

"The loss of £400 million in unrealised sales last year in the West End alone is just a small part of this story. Fewer sales on the shop floor means fewer tourists in restaurants and hotels," Corsi said. "If the government is serious about returning the country to growth, tax-free shopping presents a rare, golden opportunity to do so."

Despite an increase in international visitors, the area’s retailers are expected to face a larger financial hit this year than the estimated £400 million loss in 2023.

Read at Business Matters