The Middle East and Africa duty free retail market recorded CAGR of 4.2% during 2010–2015. Over the next five years, growing tourism, expansion of duty free retail space, upcoming airport development projects and entry of international players will provide impetus to the market. The UAE is the largest duty free market in the region but suffered from decrease in Russian duty free spending due to devaluation of Ruble which affected their purchasing power. However, increasing tourist influx from Asian countries such as China and India will offset this decline to some extent. Considering the long-term growth potential in the region, duty free operators are entering the market, at the same time existing duty free operators are expanding their duty free presence. Digital duty free will gain popularity in the region with the launch of innovative multi-channel mobile applications and inflight duty free services.
- The Middle East and Africa will grow at a CAGR of 4.9% during 2015-2020 to reach US$5.1 billion by 2020
- The UAE is the largest and fastest-growing market in the region which is expected to grow at a CAGR of 7.1%
- Health and beauty will be the fastest growing category in 2015-2020 growing at a CAGR of 7.0%
- Duty free retailers are leveraging technology to provide innovative digital shopping and promotional services
- Saudi Arabia duty free market is at nascent stage with attractive growth potential
The “Duty Free Retailing in the Middle East and Africa, 2015–2020” report, published by Verdict Research, provides analysis of current and forecast market data for retail sales in different product categories sold through duty free channel in the Middle East and Africa.
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