Global Blue Releases the Monthly Tax Free Shopping Business Update for December 2023 - Seite 2

Within Continental Europe, the Sales in Store like-for-like recovery among Mainland China shoppers has remained in line with previous months, bearing in mind that constraints such as the lead time required for visa issuance and limited group travel were still present in December. The recovery reached 58%¹ in December vs. 57%¹ in October/November and 45%¹ in Q3 ’23.

In Asia Pacific, the pace of the recovery has remained solid, reaching 104%¹ in December in line with October/November at 105%¹ and Q3 ’23 at 105%¹.

APPENDIX

YTD Data
Issued SIS L/L recovery1 (in % of 2019)	December 2023	November 2023	October 2023	Q3 2023	Q2 2023	Q1 2023	Q4 2022	Q3 2022
Continental Europe	121%	118%	115%	119%	121%	109%	104%	101%
Asia Pacific	151%	152%	147%	134%	111%	87%	80%	51%
TOTAL	130%	127%	123%	123%	118%	101%	97%	89%

Glossary

- Gulf Cooperation Council countries include: Kuwait, Qatar, Saudi Arabia, United Arab Emirates, Bahrain, Oman
- South East Asia includes: Indonesia, Thailand, Cambodia, Philippines, Vietnam, Malaysia, Singapore
- North East Asia includes: Japan, South Korea

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