Luxury Shoppers Crowd London for Brexit Bargains – Breitbart – Breitbart News


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(AFP) – While the prospect of Brexit is weighing on much of the British economy, tourism and luxury goods businesses are cashing in on bargain-hungry visitors lured by the slide in the pound.

London’s tourism agency says sales of goods eligible for sales-tax exemption have gone up by a third since the Brexit vote in June, which sent the pound sterling plunging against the euro and dollar.

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“We calculated that over the last four months it’s been about 12 percent cheaper for Europeans to come and shop here,” said Chris Gottlieb, head of leisure marketing at the agency London & Partners.

The pound is now at 1.17 euros compared with 1.3 euros before the shock vote to leave the European Union, while it has also fallen to $1.25 from $1.49.

The result is that London has become the cheapest city for luxury goods…



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