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Tax-free purchases grow 13% in Lisbon during Web Summit

Tax-free shopping tourism in the city of Lisbon grew 13% during the Web Summit technology summit, held Nov. 5-8 in Lisbon, according to Global Blue data released today.

“Shopping Tourism in the city of Lisbon grew 13% during the Web Summit. In the top five the tourists who usually buy most in Portugal, namely Angolans, followed by Brazilians, Chinese, Russians and Americans, although the value of the latter’s purchases was 53% less than the previous year, “the tax-free operating company said in a statement.

According to Global Blue data, the biggest increase in purchases came from the Chinese tourists of Hong Jong, followed by Macanese and South Koreans, who in the assessment occupy the 5th, 6th and 8th positions, respectively.

“In the top 20, the notable increase in purchases by Israeli tourists in the 13th place, which doubled their purchases compared to the same period, or of Mexican tourists, who tripled their purchases (230%). “reads the document.

By category, the biggest increase was for “watches and jewellery”, which was 66% more than in the same period of the previous year, followed by the category of souvenirs, which increased by 41%.

“These numbers are revealing of the importance of Web Summit also in an important segment of the national economy, which is shopping tourism. It is therefore worth noting in this chapter that traders can plan the future of their companies, since the Web Summit will be in Lisbon for the next ten years, “Renato Lira Leite, Managing Director of Global Blue, said in the same statement.

Between April 2016 and March 2017, the company managed 32 million transactions in tax-free purchases worldwide and 21.4 million dynamic currency conversion transactions, which together totalled more than 20 billion of sales in stores.

The technological, innovation and entrepreneurship summit Web Summit was born in 2010 in Ireland and moved to Portugal in 2016 and since then has generated an economic impact of more than 500 million euros.

Initially, the summit was scheduled to last for only three years, but in October of this year, it was announced that the event will continue to be held in Lisbon for another 10 years, ie until 2028, with annual counterparts of 11 million euros and expansion.

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