Duty-Free Retailing Market Size and Analysis by Region, Sector Analysis by Key Countries, Tourism Landscape, Trends, Innovations, Opportunities, Key Players and Forecast to 2026

Duty-Free Retailing Market Size and Analysis by Region, Sector Analysis by Key Countries, Tourism Landscape, Trends, Innovations, Opportunities, Key Players and Forecast to 2026
Summary

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

The global duty-free market grew by 73.3% in 2022, reaching sales of $49.0 billion, its highest level ever as it bounced back from the pandemic impact.
APAC duty-free market is expected to grow fastest, fueled by rising income levels and international travelers
Europe’s duty-free market recovers from the pandemic
Americas duty-free retail grew significantly in 2022 by 52.5%
New initiatives are being introduced to drive demand from consumers
Duty-free retailers are modifying their offer in line with changing consumer tastes
Diversification key to protect against geopolitical turbulence

Key Highlights

The global duty-free market grew by 73.3% in 2022, reaching sales of $49.0 billion, its highest level ever as it bounced back from the pandemic impact.
The duty-free market in the APAC region showed strong growth of 81.9% in 2022, growing from $18.0 bn in 2021 to $32.7 bn as traveler numbers surged in response to the lifting of travel restrictions.
The European duty-free market surged 63.3% in 2022 to $9.5 bn from $5.8 bn in 2021 owing to greater movement of people across the Eurozone.
Duty-free sales in the Middle East & Africa region recorded annual growth of 50.3% to reach $3.2 bn in 2022, following growth of 42.9% in 2021 and a decline in sales in 2020.
When a geopolitical development or a health crisis affects a particular region significantly, duty-free retailers need sales from other regions to cushion the adverse impact for instance to offset disruption resulting from the Russia-Ukraine conflict or China’s stringent COVID-19 regulations.

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