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China, South Korea’s support of duty-free retail “a blessing”: GlobalData




With international tourism not expected to return to pre-Covid levels until at least 2023 across APAC, duty-free retailers around the region are exploring new revenue streams in an effort to keep the industry going.

According to GlobalData retail analyst Vijay Bhupathiraju, finding new revenue streams, especially from Chinese customers, is crucial for the duty-free market – and the Chinese and South Korean governments have set a strong example for other leaders in the region to follow.

For example, after the Chinese Government removed all purchase caps and tripled the annual limit on duty-free purchases in the Hainan Province to CNY100,000 per person, the province’s duty-free operator, China Duty-Free Group, recorded growth…

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