Digital tax refund schemes will reduce UK and European tourist spending by billions

Europe will miss out on more than 1.6 billion euros of spending from tourists of countries with restricted currencies due to tax refunds being paid digitally rather than in cash, according to research by Prosegur ChangeGroup.

With more than 40 countries, including India, China, Brazil, Malaysia, and South Africa, having a restricted currency, visitors from those countries are limited to how they can spend their money abroad and what they can bring home, this includes the tax refund they receive for shopping.