Global duty free market expected to jump 51% by 2019
By 2019, global duty-free sales are expected to reach 73.6 billion dollars, up 51% as compared to 2014, according to the "Global Duty Free retailing 2014-2019" report conducted by the retail research agency Conlumino.
This growth has greatly been boosted by the development of low cost airlines, which has increased the number of passengers in general, but which has also increased the number of airports. Brands and retailers, meanwhile, are aiming to attract international passengers (who should number over one billion in 2018) by investing more heavily in duty free networks.
The Asia-Pacific region generates 43% of global duty free sales. The region is dominated by South Korea (13%), due to its position as a hub, followed by China (9%). By 2019, however, with the proliferation of airports as well as duty-free city centers, China is expected to become the largest duty free market.
The UK appears as the fourth biggest duty free market, with sales of $ 3.7 billion in 2014, behind the United States.
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