Global Duty Free market to grow 8.56% by 2021

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Research and Markets, one of the world’s largest market research providers, has released a report entitled the Global Duty-Free Retailing Market 2017-2021, in which it predicts that global duty-free retailing will grow by 8.56% over the period.

The report discusses current revenues, then also the potential for development, with insight from key vendors in the industry – emerging markets and spending on high-cost items are said to be the drivers for growth. The Asia-Pacific region is the fastest-growing, thanks to increasing airport traffic and a thriving tourism industry, and its contribution to the duty-free market is expected to increase. The demand for luxury, high-value goods is also said to be rising, accounting for 64.43% of global revenues in 2016.

However, the report does also warn of potential setbacks for duty-free growth, such as a reduced focus on shopping at certain travel points and limited vacation time in other markets. The report is available here.

Written by Chris Anderson

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Helen has worked for UKi Media & Events for nearly a decade. She joined the company as assistant editor on Passenger Terminal World and since progressed to become editor of five publications, covering everything from aviation, logistics and e-commerce to meteorology. She has a love for travel and property and has redeveloped three houses in three years. When she’s not editing magazines, she’s running around after her two boys and their partner in crime, Pete the pug.

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