SHOPPING TOURISM MARKET SIZE AND SHARE ANALYSIS - GROWTH TRENDS AND FORECASTS (2024-2031)

Regional Analysis

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North America has established itself as the dominant region in the global shopping tourism industry with 36.8% share in 2024. With the U.S. being home to some of the largest retail markets in the world, including iconic shopping destinations like New York City and Los Angeles, it attracts millions of domestic and international shoppers each year. American brands like Nike, Coach and Apple have a strong global presence and appeal to shoppers abroad who seek out authentic American products. Major cities across the U.S. and Canada have capitalized on this demand by developing world-class shopping districts and centers that offer visitors an extensive selection of goods at competitive prices. Several shopping centers in the United States such as Mall of America in Minnesota also incorporate entertainment facilities to enhance the overall shopping experience for visitors. Another vital factor contributing to North America's prominence is a robust logistics network that ensures wide product availability and quick delivery times globally. This allows retailers in the region to better cater to shopper demands on an international level. Thus, established retail infrastructure combined with high-profile American brands have made North America the clear leader in the global shopping tourism sector for several years.

Meanwhile, Asia Pacific has emerged as the fastest growing regional market. Countries like Thailand, Singapore, and Malaysia have seen double-digit annual growth in international visitor arrivals for shopping over the past five years. This growth can be attributed to lower costs of goods compared to other developed markets. The region is an attractive destination for shoppers seeking quality products at affordable budget-friendly prices. Additionally, Southeast Asian countries have invested heavily in developing ultra-modern shopping complexes that rival global standards while also reflecting the diverse cultural styles within the region. Free trade zones also allow for easier import and export of goods, improving inventory mixes for retailers. These factors have propelled Southeast Asia to becoming the new bright spot in the global shopping tourism industry.