Another sign of the harm caused by the “tourist tax” emerged today, with Watches of Switzerland’s sales at UK airports still less than half of pre-pandemic levels even as passenger traffic returns to normal.
CEO Brian Duffy told the Standard that sales at showrooms in Heathrow and Gatwick were still only “40% to 50% of what it was”, and added that the removal of VAT-free shopping had an especially big impact on its airport business. He added that some of the impact was also due to the group “pulling back” on the number of watches from Rolex, always among the most in-demand brands, it stocks at the airport showrooms because of supply changes.
