Asia is fastest-growing region for global duty free
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Sales of duty free shops in Asia Pacific last year reached Us$18.6 billion, up 16.3 per cent from the previous year, according to independent industry analyst Generation Research AB.
Against global sales of $49 billion, that accounted for 37.7 per cent.
"The 2012 result is a 7.5 per cent increase on 2011 and, yet again, it’s the Asia Pacific region that is the powerhouse of this growth,” stated Erik Juul-Mortensen, President TFWA.
In other regions, Africa grew 13.7 per cent from a low base, Middle East up 10.5 per cent and Americas up 4.7 per cent. Europe, for 60 years the dominant region for the industry but currently plagued by economic troubles, remained flat.
Juul-Mortensen released the figures during the TFWA Asia Pacific Conference & Exhibition in Singapore in May.
