Tourists hold shopping bags as they walk along the Las Rozas Village mall in Las Rozas, Spain January 31, 2017. REUTERS/Juan Medina
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Restorers of vintage stained glass are enjoying a new lease on life in Madrid these days, bringing their artisanal skills to a luxury retail and hotel complex in the center of Spain's capital.Regional governments, construction and travel firms as well as shops are working hand-in-hand to recast Spain – and Madrid in particular – as a retail hub to rival Milan or Paris.Retaining these visitors is key: Tourism generates one in eight jobs in Spain and has underpinned its recovery from recession.One reason for this is that Spain draws a fraction of the world's most profitable tourists – Chinese and Russians – and has cornered only 4 percent of Europe's luxury shopping market.Ernst & Young calculates that turning Spain into a shopping hub could more than triple spending by non-Europeans on tax free purchases to 5 billion euros by 2019 – and create 50,000 jobs.
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