Dubai – Mubasher: Sales at Dubai Duty Free are forecast to rise to $2 billion in 2018, the firm’s vice chairman and CEO has revealed.
Expansions at the Dubai International Airport (DXB) have contributed significantly to this figure, Colm McLoughlin told Arabian Business.
"There are many factors behind that growth, including the ongoing expansion and development of our retail operation in Dubai International in particular, where we have had major ongoing development over the past year, most of which will come to fruition by the end of this year," the CEO stated.
The top official also noted that the airport had been seeing a rise in Chinese passengers, whom Dubai Duty Free has been engaging before they travel through marketing promotions with China’s largest travel operator C-Trip.
Earlier on Tuesday, DXB reported a rise in passengers in the nine months to September, citing a rise from Indian and Chinese travellers.
McLoughlin’s statements come after the Dubai Duty Free reported a decline in sales for the second year in a row at Dubai’s two airports, namely DXB and Al Maktoum International Airport. This was due to the strengthening of the US dollar, which is pegged to the dirham.
Sales in both airports fell 3.2% to $1.8 billion in 2017 from $1.9 billion in 2016, data from Dubai Duty Free showed.
Liquor, perfumes, tobacco, cosmetics, and electronics topped products sold at Dubai Duty Free so far in 2018, while watches, gold, confectionery, delicacies, and handbags and small leather items followed.
“Based on our sales so far, we expect to reach $2 billion in sales this year, and we’re very excited about that,” McLoughlin stated.
