THE TRANSATLANTIC MAGAZINE
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Further evidence has emerged to suggest that the ties between the economies of the UK and USA are strengthening. According to statistics released by international payment service provider Planet, Americans are on a "Transatlantic spending spree" in the UK, with the number of UK sales to US shoppers growing by 27% in May this year. The figures mark a ninth consecutive month of double-digit sales growth to American visitors.
Planet also revealed that alongside the overall growth in sales, the average spend by a US shopper in the UK also rose to an average €474 in May - €110 higher than the €364 recorded a year earlier.
The figures add to a growing sense that Americans recognize opportunity in the UK at present. They follow recent news that firms are seeing more American buyers of property in London and that the UK has seen record levels of export demand to the US.
Analyzing the figures, David Perrotta, UK Country Manager at Planet explained that "We’ve been seeing a shift in the way that the UK is positioned to international audiences recently. Once known predominently as a cultural and heritage destination, shoppers from across the globe are now seeing the UK as one of Europe’s bigger-ticket luxury shopping destinations and are beginning to spend more per purchase while here ... This could indicate a bigger volume of high-value luxury goods being bought. We expect this growth in sales to international shoppers to continue in the coming months as we head into the summer holidays."
Combined with important cultural ocassions such as next year's 400th anniversary of the Mayflower's voyage to America, it appears the Special Relationship is only strengthening, both economically as well as culturally.