American tourists drive luxury sales in Europe

An article by Sophie Baqué

Publication

21 December 2022 à 13h57

Updated on 2 January 2023 à 15h41

Reading time

2 minutes

Publication: 21 December 2022 à 13h57, Updated on 2 January 2023 à 15h41

Reading time: 2 minutes

An article by Sophie Baqué

Publication

21 December 2022 à 13h57

Updated on 2 January 2023 à 15h41

Reading time

2 minutes

Publication: 21 December 2022 à 13h57, Updated on 2 January 2023 à 15h41

Reading time: 2 minutes

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Americans, taking advantage of a dollar at the highest level for 20 years, are boosting the European luxury market. According to payment specialist Planet, during the week of Black Friday, American spending in Europe increased by more than 40% compared to 2019. An average spend in European stores reached €1,244 in 2022, compared to €500 in 2019. This momentum is balanced against the continued absence of Asian customers. According to Bank of America, the price gap for luxury clothing and...

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