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Airport retail tipped to rise 27.4% to reach $59.2bn by 2017

Published: 13-Mar-2014

The global airport retail market is set to reach US$59.2bn by 2019, according to report by Verdict

The global airport retail market is set to reach US$59.2bn by 2019, according to the Global Airport Retailing report published by market analyst Verdict.

Growth will be driven by a 27.4% increase in passenger numbers as well as growing affluence in emerging markets.

The report forecasts that the fastest growth in airport retailing sales over the next six years will be in the Asia Pacific region, with the market more than doubling in size. Passenger numbers will increase by 37.8% in the period and spend per passenger will rise from $7.78 to $11.37.

In addition, while the weak economy has dampened passenger number growth in Europe and North America over the last five years, Verdict predicts that growth will pick up again as the economy shows signs of improving.

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