Middle East and Africa Travel Retail Market Size

MEA Travel Retail Market Analysis

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.