Shops benefit from high-spending Brazilians and Nigerians
Sunday 27 March 2011
Brazilians and Nigerians are set to rival the Chinese for top place as the most serious shoppers on Britain's high streets.
Tourists from both countries are helping to fill the gap left by the fall in Britons' spending. Purchases by Brazilian shoppers in London are up by 92 per cent while Nigerians have spent 50 per cent more in February compared with the same month last year, according to tourism shopping and spending experts Global Blue. This is the first time that Brazil has reached the top 10 of the big spending countries the company said.
Both countries are big oil producers. Brazil is one of the fastest growing countries in the world and part of the so-called Bric group of emerging markets – which includes Russia, India and China – thanks to its oil riches and other commodities such as sugar and gold.
Nigeria, Africa's top oil producer, also has a vast industry which continues to fuel a large, wealthy elite.
The news of the rise of the high-spending, equatorial tourist shopper follows the latest report from Hotels.com of an upswing in the return of business travel. It found that business travellers are boosting the hotel sector – contributing to the 2 per cent rise in the average price of a hotel night which is the first year-on-year increase since 2007.
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