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IMARC Group, a leading market research company, has recently releases report titled " Duty-free and Travel Retail Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2023-2028 " the global duty-free and travel retail market size reached US$ 37.2 Billion in 2022. Looking forward, IMARC Group expects the market to reach US$ 58.8 Billion by 2028, exhibiting a growth rate (CAGR) of 7.8% during 2023-2028. What is Duty-free and travel retail? Duty-free and travel retail comprises a specialized shopping experience that allows passengers to purchase a wide range of products, such as luxury goods, cosmetics, electronics, and fashion items, without being subject to certain local import taxes and duties. It caters to the distinct shopping preferences of travelers and offers enhanced convenience to individuals. It is primarily situated in international airports, seaports, border crossings, and cruise terminals.  It is a time-saving purchasing solution wh...

How big is the Duty-free and Travel Retail Market? IMARC Group, a leading market research company, has recently releases report titled " Duty-free and Travel Retail Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2023-2028 " the global duty-free and travel retail market size reached US$ 37.2 Billion in 2022. Looking forward, IMARC Group expects the market to reach US$ 58.8 Billion by 2028, exhibiting a growth rate (CAGR) of 7.8% during 2023-2028. What is Duty-free and travel retail? Duty-free and travel retail provide a specialized shopping opportunity that enables passengers to buy various items, including luxury goods, cosmetics, electronics, and fashion items, without incurring specific local import taxes and duties. This shopping experience is tailored to the unique preferences of travelers and offers added convenience. Typically located in international airports, seaports, border crossings, and cruise terminals, it offers a time-efficient s...

What is Duty-free and travel retail? Duty-free and travel retail refer to the sale of goods to international travelers in designated areas, such as airports, seaports, and border crossings, where certain taxes and duties are exempted or reduced. They contribute significantly to the revenue streams of airports, seaports, and duty-free operators. They offer a convenient shopping experience to travelers, presenting them with a wide array of products at competitive prices within the airport or travel terminal. They allow travelers to purchase goods they desire without having to venture outside or visit local stores. Furthermore, as they offer a wide selection of products, including luxury and high-end brands, the demand for duty-free and travel retail is rising around the world. Report Highlights How big is the Duty-free and Travel Retail Market? Report Attributes Details Market Size in 2022 US$ 37.2 Billion Market Forecast in 2028 US$ 58.8 Billion Growt...

Duty-free and Travel Retail Market Outlook: The global duty-free and travel retail market size reached US$ 37.2 Billion in 2022. Looking forward, IMARC Group expects the market to reach US$ 58.8 Billion by 2028, exhibiting a growth rate (CAGR) of 7.8% during 2023-2028. What is Duty-free and travel retail? Duty-free and travel retail represents a retailing channel that offers tax-free goods to international travelers. It generally includes stores, shops, and outlets established in travel environments, such as ferries, airports, seaports, etc. Duty-free and travel retail sells a wide array of products, including wine and spirits, tobacco, eatables, beauty and personal care, fashion accessories, luxury items, etc. It provides lower prices on goods and products, offers convenience to travelers by delivering various merchandise, increases brand awareness, etc. Consequently, duty-free and travel retail generates significant revenue for the travel and tourism, aviation, and maritime ...

The latest research study " Duty-free and Travel Retail Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2023-2028 " by IMARC Group, finds that the global duty-free and travel retail market size reached US$ 37.2 Billion in 2022. Looking forward, IMARC Group expects the market to reach US$ 58.8 Billion by 2028, exhibiting a growth rate (CAGR) of 7.8% during 2023-2028. Duty-free and travel retail is a retailing channel that exempts travelers from paying sales, import, value-added (VAT), or local tax during international traveling. It sells a wide range of tax-free products such as wine, tobacco, luxury items, chocolates, fashion accessories, eatables, spirits, beauty, and personal care products. It assists in increasing brand awareness, offering convenience to travelers by delivering numerous merchandise and offering goods and products at affordable prices. As a result, duty-free and travel retail include stores, shops, and outlets that are wid...