Leather goods and women's clothing accounted for around half of all money spent by Americans abroad, according to Global Refund, a specialist in VAT (Value-Added Tax) refunds for shoppers. The company's figures showed a massive rise in refunds received by Americans in 2000 - a reliable indicator of money spent abroad.

US travellers received 50% more in rebates in 2000 than they did in 1999, and most of the extra money was spent in Italy (up 87% year on year) and France (up 63%). Global Refund suggested that the high value of the dollar and increased foreign travel were contributing factors to the increased spend.