Burberry’s chief executive has warned that a lack of tax-free shopping for overseas tourists is making the UK “less competitive” and benefiting Europe.
Jonathan Akeroyd said visitors had been returning to mainland Europe, mainly Paris, Milan and Barcelona, in “bigger and greater” numbers than London, putting the UK at “a competitive disadvantage”.
“We’ve seen a big surge in British tourists spending in mainland Europe as well, which is obviously quite telling,” he said as the UK luxury brand on Thursday reported an acceleration of fourth-quarter revenue growth in China.
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