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| Russian tourist spending in UK sees sharp fall in February | Russian tourist spending in UK sees sharp fall in February |
| (about 5 hours later) | |
| UK hotels and shops saw income from Russians fall 17% in February compared with a year ago as visitor numbers fell back amid political unrest in Ukraine. | UK hotels and shops saw income from Russians fall 17% in February compared with a year ago as visitor numbers fell back amid political unrest in Ukraine. |
| Finance company Global Blue said unrest and the effects of a weakening economy left Russians disinclined to travel. | Finance company Global Blue said unrest and the effects of a weakening economy left Russians disinclined to travel. |
| The findings come from tax-free shopping specialists, Global Blue, which processes the vast majority of tax-free spending by overseas visitors. | The findings come from tax-free shopping specialists, Global Blue, which processes the vast majority of tax-free spending by overseas visitors. |
| Russians are among the top five biggest-spending tourists in the UK. | Russians are among the top five biggest-spending tourists in the UK. |
| Global Blue, which processes 80% of all tax-free shopping in the UK, said they spend an average of almost £700 per transaction. | Global Blue, which processes 80% of all tax-free shopping in the UK, said they spend an average of almost £700 per transaction. |
| Non-EU residents can shop "tax-free" by claiming back the VAT - worth 20% - on spending above £30 at shops and hotels, basically by filling in a form. | |
| Luxury | Luxury |
| The fall in numbers saw Russians slip from the third-biggest spenders in the country to fourth place, overtaken by Nigerian nationals. | |
| Global Blue says this fall in numbers, if the political and economic uncertainty continues, could have a serious impact on certain shops and hotels, particularly at the luxury end of the market, which is preferred by Russian visitors. | Global Blue says this fall in numbers, if the political and economic uncertainty continues, could have a serious impact on certain shops and hotels, particularly at the luxury end of the market, which is preferred by Russian visitors. |
| Gordon Clark, UK country manager of Global Blue, said: "The unstable situation in Russia has shown its effect on tourism spend this year as the weakening economy leaves shoppers disinclined to travel." | Gordon Clark, UK country manager of Global Blue, said: "The unstable situation in Russia has shown its effect on tourism spend this year as the weakening economy leaves shoppers disinclined to travel." |
| But he said the UK was still an attractive place for Russian tourists because of the range of luxury brands on offer. | But he said the UK was still an attractive place for Russian tourists because of the range of luxury brands on offer. |
| Until the fall-off in February spending had been rising sharply - with an annual increase in spending of 16% in 2013. | Until the fall-off in February spending had been rising sharply - with an annual increase in spending of 16% in 2013. |
| It also pointed out that the tourism body, Visit Britain, predicts growth in spending by Russian shoppers of 75% by 2020. | It also pointed out that the tourism body, Visit Britain, predicts growth in spending by Russian shoppers of 75% by 2020. |