Middle East and Africa Travel Retail Market - Growth, Trends, COVID-19 Impact, and Forecasts ((2022 - 2027)

Middle East and Africa Travel Retail Market - Growth, Trends, COVID-19 Impact, and Forecasts ((2022 - 2027)

The travel retail market which is one of the strong performing industries in the Middle Eastern region has recorded a sharp drop in revenues during 2020. It recorded a lower market value which is more than half of the value is recorded in the year 2019 owing to the COVID-19 pandemic global outburst with around USD 2.8 billion in 2020. Repeated lockdowns and the closure of international borders for a longer time and the global outburst of the virus have resulted in the revenue plunge during the year.

The United Arab Emirates especially Dubai has been largely identified as the luxury travel destination for many international travelers owing to which it is largely seen as a traveler's shopping destination. Owing to the high number of tourist visits to the Emirates followed by the variety of diverse products that are available to the customers are the major factors that are helping the market to record increasing revenues each year. During the study period, the market has witnessed several new launches products, and brands which helped the market to record more revenue transactions. The duty-free retail spaces at Dubai International Airport, Abu Dhabi International Airport, are also contributing a major share to the travel retail owing to the high demand for the duty-free products acorss nations. The advantageous geography of the Middle Eastern region, which connects it to all four corners of the globe, is also helping the travel retail market in expanding its revenue by welcoming more shoppers.

Key Market TrendsThe UAE has been Playing a Key Role in Attracting More Customers and thus Recording Year-on-Year Revenues

The majority of the Middle Eastern airports have been a part of the top international thus helping the travel retail market in high revenue generation. Of many, Dubai is the number one airport in terms of international traffic and is offering extra lavish premises and a wide range of products to the travelers which thus helping the market in attracting more customers year on year. These international hubs are welcome a significant number of global shoppers, for instance, Dubai is the third airport in EMEA in terms of Chinese passengers, and the number of travelers from China to Doha has grown largely during the study period.

Beauty Products, Jewellery, Fashion and Accessories are Faster Developing Segments in the Market

Beauty products, Cosmetics, Jewellery, have been the largest contributing product category to the total sales recorded in the market followed by other products such as perfumes, liquor, and tobacco. Gold and precious gems have also been one of the well-performing market segments in the Middle Eastern market owing to the various designs of jewelry that is offered to the customers. Beauty products and perfumes have also recorded strong demand during the study period and are among the products which have a greater number of sales transactions in the market.

Competitive Landscape

The presence of several leading players including Dubai Duty-Free, Abu Dhabi Duty-Free, Aer Rianta International Middle East, etc., in the Middle East and Africa travel retail market has made it more competitive. The leading brands are opening exclusive stores for special products in order to attract more customers. The companies are also promoting, differentiating, and selling limited editions to increase their visibility and brand awareness in the market.

Additional Benefits:

• The market estimate (ME) sheet in Excel format
• 3 months of analyst support

Companies Mentioned
 
Aer Rianta International Middle East
Abu Dhabi Duty Free
Dubai Duty Free
Lagardere Travel Retail (part of Lagardere Group)
Bahrain Duty Free
Beirut Duty Free
Big Five Duty Free Stores
Hamila Duty Free
Kreol Travel Retail
Pernod Ricard Global Travel Retail
Dufry AG
EgyptAir for Tourism (El Karnak) and Duty Free Shops Company (EADFS)*

Please note: This publisher does offer titles that are created upon receipt of order. If you are purchasing a PDF Email Delivery option above, the report will take approximately 2 business days to prepare and deliver.