ASIA PACIFIC IS MOST VIBRANT REGION
FOR DUTY FREE AND TRAVEL RETAIL
LONDON, June 05, 2014 /PRNewswire/- The duty free & travel retail community assembled last month in the Marina Bay Sands Expo & Convention Center, Singapore for their annual regional summit, a highly successful event which reflected the strength of the industry in the region.
Buyers, landlords, agents and distributors, who serve airports, airlines, ferry, cruise and downtown duty free stores all over the region, flocked to TFWA Asia Pacific Exhibition & Conference from 11th to 15th May to update on industry trends and do business with over 260 prestigious exhibiting companies.
The atmosphere throughout the week was purposeful and focused, a mood which echoed the determined progress of the regional business over the last year.
Provisional figures released by Generation AB show that global duty free and travel retail sales in 2013 reached US$60 billion. The Asia Pacific region accounted for US$22.3 billion, 37% of the total, up 12% on 2012 which was well ahead of the global trend of +7.5%. In 1995, when the first TFWA Asia Pacific Exhibition & Conference was staged, the region’s share was 30.5%; over the next decade it is forecast to reach 45%.
Interestingly, in terms of growth, downtown duty free stores delivered the greatest year on year sales growth in the region, unlike most other regions where airport stores are the major driver.
However, in absolute terms, airports remain the dominant channel, accounting for over half of duty free & travel retail sales worldwide. Of the world’s top ten duty free and travel retail locations six are Asian airports: Seoul Incheon, Singapore Changi, Hong Kong, Bangkok, Shanghai Pudong and Beijing Capital.
Indeed, half of the income of airports in the Asia Pacific region is non-aeronautical revenue, of which the lion’s share is generated by retail businesses. Airports around the world have recognised the vital contribution that such revenue makes to funding airport development, stimulating traffic growth by keeping landing fees down, and thereby creating employment and supporting both travel and tourism.
The TFWA event broke records once again for exhibition space, exhibitors and visitor numbers, an outstanding performance which is testament to the dynamism of the duty free & travel retail industry in Asia Pacific.
A total of 2,683 visitors, up 9.4% from last year, visited the show, from 1,022 companies (+1.8%). Of this total, 982 were duty free & travel retail operators and landlords (key buyers), up +8.7% on 2013, from 255 companies (+6.2%).
A total of 330 meetings (+10%) were facilitated by the ONE2ONE pre-arranged meetings service in a dedicated suite between delegates and the 36 airports and 26 airlines present at the show, with many more meetings with these key visitors taking place on exhibitors’ stands.
Erik Juul-Mortensen, President TFWA commented: “ONE2ONE is a key element of TFWA Asia Pacific Exhibition & Conference as more people use it to establish new contacts in the region. The participation of so many airports and airlines at a regional duty free & travel retail event is a real added-value element of the show.”
The opening Conference on Monday 12th May took the theme ’Asia: Shaping the World’ and the keynote speakers were Julia Gillard, former Prime Minister of Australia, Robert Waloni, Commercial & Business Development Director, Angkasa Pura Airports, author and strategist Parag Khanna, Jaya Singh, President APTRA, and Erik Juul-Mortensen.
Four regional focus workshops took place during the day on East Asia, Australia & New Zealand, South East Asia, and India & South Asia. The closing plenary on ‘Asia 2020’ explored the shopping behaviour of tomorrow’s Asian travellers with speakers Jorge Rodriguez, Director of Brand Alliance and Shubhodeep Pal, Vice President of Simpliflying.
A convivial and relaxed social programme in delightful venues such as the historic Alkaff Mansion, Raffles and the rooftop Skypark at Marina Bay Sands aided the networking process.
The forthcoming events organised by TFWA include the 30th TFWA World Exhibition & Conference from 26th to 31st October in the Palais des Festivals, Cannes; the Middle East & Africa Duty Free Association Conference from 24th to 25th November at the Jumeirah Creekside, Dubai; and the second TFWA China’s Century Conference from 10th to 12th March 2015 in the Jing An Shangri-La Hotel, Shanghai.
Details of all TFWA events can be found at www.tfwa.com.
For further information please contact
TFWA Press Office
Tel: +44 1784 434 666