The Attica Region, Mykonos, and Macedonia Region are in the lead in terms of duty free shopping sales accounting for 65 percent, 13 percent, and 12 percent of the sales value, respectively, according to data released by solutions firm Global Blue.
Transaction value increased in all 13 regions, with the largest rise recorded in the Peloponnese at 113 percent.
Tax Free Shopping (TFS) in Greece is holding strong recording in 2019 an 18 percent rise in the number of transactions, a 23 percent increase in the value of sales, and a 4 percent rise in average spending compared to 2018.
Global Blue analysts are attributing the TFS market’s steady and significant growth over the last five years to the development of tourism.
Top buyers are the Chinese accounting for 32 percent of all purchases, followed by the Americans with 14 percent, and the Israelis at 6 percent.
According to the data, there is a decline in the number of Chinese international shoppers compared to a year earlier, while US and Israeli travelers are buying more.
Indicatively, visitors from the US and Egypt increased the value of their purchases by 46 percent, the Israelis by 44 percent, and the Canadians by 28 percent.
With regard to the number of transactions in 2019, Egypt nationals accounted for 45 percent, Israelis for 40 percent, and US visitors for 27 percent.
Visitors chose to spend most (52 percent) on fashion apparel and 20 percent on jewelry and watches.
On the downside, Global Blue analysts note that Brexit poses the biggest challenge for Greece’s tax free market, particularly in view of the fact that Britain is a leading source market.
Further growth of the country’s TFS segment will depend on upgrading and automating procedures and services.