Slide of the month (SOTM) May. The size of Africa’s travel retail market
Global players majorly dominate the African travel retail market. africon advised one of the largest travel retail operators in the world on their Africa strategy. The project aimed to identify the market size, main distribution channels, and new and upcoming projects in the travel retail industry.
Our research revealed that the travel retail turnover experienced a significant drop of 64.3% in 2020. This was primarily due to the COVID-19 pandemic, which caused the cessation of air travel, the implementation of stringent lockdown measures, and a decline in travel demand worldwide. However, the market is forecasted to grow at a CAGR of 5 – 10% until 2030, due to increased air passenger traffic, improved income levels among the middle class, and favourable government policies promoting tourism and hospitality.
We also presented the client with an all-inclusive report mapping duty-free shops and other retail outlets in airports, railways, onboard airplanes and cruise ships in Africa. We helped them prioritize the key markets and distribution channels to guide upcoming regional sales endeavors.
What is the potential for you in Africa? If you have any questions, contact us at email@example.com
Read previous SOTMs (Slides of the month) here
Slide of the month (SOTM) April. More than 37bn € investment in upcoming rail infrastructure projects poised to transform Africa’s transportation network
Slide of the month (SOTM) March. 77% of German chemical companies see a big potential in Africa.
Slide of the month (SOTM) February. Green hydrogen opportunity in Africa
Slide of the month (SOTM) January. Africa will install 600 new printing and packaging machines in 2023
Slide of the month (SOTM) December. Opportunities in the automotive manufacturing sector in Africa