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"Retail In Airports Will Grow To $49 Billion By 2021, Research Finds"
Monday, June 26, 2017
Retail In Airports Will Grow To $49 Billion By 2021, Research Finds
Global airport retailing will grow 27% to $49 billion by 2021, according to
research from GlobalData, an analysis, data and solutions company for
industries including retail, tech and healthcare. In 2016, spending in
airports, including duty-free shops, totaled $38 billion. An increased number
of travelers as well as increased security over recent years are a "captive
audience" who have "time to kill and, especially when on holiday, is in the
mood to spend." Asia-Pacific airports generated the most spending in 2016 with
$14.8 billion, with Chinese travelers providing a boost. Europe tallied $10.7
billion in 2016, with the Brexit decision and the decline in value of the pound
attracting tourists. The U.S. has made gains, but, GlobalData says, President
Trump's efforts to curb immigration "is making regular travelers think twice
about visiting the country." The SPDR S&P Retail ETF is down 10.3% for the year
so far while he S&P 500 index is up nearly 9% for the period.
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