Asia-Pacific (APAC) Duty-Free Retailing Market Size, Sector Analysis, Tourism Landscape, Trends and Opportunities, Innovations, Key Players and Forecast to 2026

Asia-Pacific (APAC) Duty-Free Retailing Market Size, Sector Analysis, Tourism Landscape, Trends and Opportunities, Innovations, Key Players and Forecast to 2026
Summary

This report provides an overview of the Asia-Pacific duty-free retailing which includes Market & Category Expenditure and Forecasts, Trends, and Competitive Landscape

Asia-Pacific duty-free market is expected to register promising growth between 2023-2027, fueled by rising income levels and a rise in international travelers

China is the leading duty-free market in the Asia-Pacific region but is expected to be surpassed by South Korea by 2026

Duty-free players are prioritizing holistic travel experiences for customers

Technology will play an important role

Growing focus on sustainability

Key Highlights

The duty-free market in the Asia-Pacific region showed strong growth of 81.9% in 2022, growing from $18.0 bn in 2021 to $32.7 bn in 2022. The region benefited from a surge in the number of international travelers as restrictions on travel were lifted.
The duty-free market in the Asia-Pacific region is witnessing difficulties due to the re-emergence of COVID-19 cases in some parts of the region, high levels of inflation, and uncertainties due to the indirect impact of the Ukraine-Russia conflict.
Key players in this market are focusing on expanding their offerings from regular duty-free products to more holistic customer experiences.
The future of the Asia-Pacific duty-free retail sector is being shaped by the adoption of technology, the inclusion of online shopping, mobile payments, and digital marketing. These initiatives are enabling businesses to connect with customers and improve the shopping experience.

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