Research and Markets has announced the addition of Global Airport Retailing 2007 to their offering. Globalisation, strong economic development and the proliferation of low-cost airlines have fuelled substantial growth in air travel. This has led to unprecedented growth in airport retailing over recent years and strong growth is expected to continue. This report provides in-depth analysis by geographic region, examining which ones have outperformed, their growth drivers and future potential.
The global airport retailing market is one of the fastest growing niches of world retail. Following three years of double-digit growth, between 2003 and 2006, the market has grown to be worth an estimated $24bn in 2006. It has benefited from the rapid rise in numbers of people travelling by air and has been driven by strong investment.
Over recent years, the greatest percentage growth was returned by the relatively immature Middle East and Africa, but the most significant performance in value terms was generated by Europe. Europe is the hub around which the rest of the travelling world revolves. Europe is the biggest airport retail market, with 42 per cent of market share in 2006. And, despite being the most mature market, Europe is expected to grow by over 70 per cent over the next five years, only slightly underperforming the market at large.