Global Airport Retailing (2016-2021) - Driven by an Uplift in Global Passenger Traffic - Research and Markets

DUBLIN--()--Research and Markets has announced the addition of the "Global Airport Retailing 2016-2021" report to their offering.

The global airport retail sales recovered in 2016 with growth of 4.0%, having witnessed a 2.8% decline in 2015. The growth is driven by an uplift in global passenger traffic (up by 6.0%), especially from Asia-Pacific countries. The region will continue to contribute significantly to passenger traffic, supported by the expansion of low-cost carriers, visa-on-arrivals, increasing purchasing power, and favorable exchange rates. Chinese tourists buying luxury items away from their home country and increasing spend per passenger at airports are factors behind this uplift.

The global airport retailing is expected to grow at a CAGR of 5.0% to reach US$49 Billion over the next five years. Asia-Pacific will record the fastest growth in airport retail sales in the forecast period, with annual growth between 2016 and 2021 showing an increase of 38%. This growth will be driven by increasing air passenger traffic, expansion of airport infrastructure, higher levels of spend on beauty, especially among Chinese travelers, and greater demand from travelers for luxury purchases.

Despite many challenges, 2016 was a successful year for global tourism. Global outbound tourism grew by approximately 5% due to the rise in Chinese and US outbound tourism; estimation based on the United Nations World Tourism Organization's declaration for nine months data for 2016 where global outbound tourism grew by 4%. Europe is the most preferred destination for foreign travelers, followed by Asia-Pacific. The rise in global tourism is crucial as travel retail sales were declining due to terror threats and less spending in 2015. Increasing traffic at airports and expanding retail services are expected to result in higher sales.

Companies Mentioned

  • Aer Rianta International
  • DFS
  • Dubai Duty Free
  • Dufry
  • Duty Free Americas
  • Gebr. Heinemann
  • King Power International
  • Lotte Duty Free
  • Lagardère Travel Retail
  • The Shilla Duty Free

Key Topics Covered:

Section 1. Key findings

Section 2. Market size

Section 3. Market forecast

Section 4. Outlook

Section 5. Key airport retailers

Section 6. Appendix

For more information about this report visit https://www.researchandmarkets.com/research/zndp4z/global_airport

Contacts

Research and Markets
Laura Wood, Senior Manager
press@researchandmarkets.com
For E.S.T Office Hours Call 1-917-300-0470
For U.S./CAN Toll Free Call 1-800-526-8630
For GMT Office Hours Call +353-1-416-8900
U.S. Fax: 646-607-1907
Fax (outside U.S.): +353-1-481-1716
Related Topics: Retail, Airports and Air Traffic Control

Contacts

Research and Markets
Laura Wood, Senior Manager
press@researchandmarkets.com
For E.S.T Office Hours Call 1-917-300-0470
For U.S./CAN Toll Free Call 1-800-526-8630
For GMT Office Hours Call +353-1-416-8900
U.S. Fax: 646-607-1907
Fax (outside U.S.): +353-1-481-1716
Related Topics: Retail, Airports and Air Traffic Control