SINGAPORE, June 7, 2013 /PRNewswire/ --
"Preliminary forecast global sales for 2012 are just over $49 billion - close to the magic $50 billion which was discussed not all that many years ago as a possible figure to reach, but still a little away from the projected $64 billion by 2015. The 2012 result is a 7.5% increase on 2011 and, yet again, it's the Asia Pacific region that is the powerhouse of this growth," stated Erik Juul-Mortensen, President TFWA.
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Mr Juul-Mortensen was speaking at the opening plenary of the TFWA Asia Pacific Conference & Exhibition on Monday 13th May in the Marina Bay Sands Expo & Convention Center in Singapore.
Prestigious luxury brands abound at TFWA Asia Pacific Conference & Exhibition
The exhibitors included the owners of many of the most prestigious luxury brands in the world and, with their smaller neighbours, they shared one ambition: to expand their business in China, India, Taiwan, Vietnam and the other fast developing countries in Asia in addition to the established duty free & travel retail markets such as Singapore, Malaysia, Japan and Australia.
Buyers, landlords, distributors and agents from airports, airlines, marine and downtown duty free & travel retail outlets across Asia and the Pacific region crowded through the doors and by 5pm on Thursday 16th May a total of 2,452 people had visited the exhibition, up 13% on 2012.
A busy year ahead
The next major event in the global duty free & travel retail industry calendar is the 29th TFWA World Exhibition in the Palais des Festivals in Cannes, France, from 20th to 25th October. With thousands of innovative products on display from the world's most prestigious and forward-thinking brand companies, this is bound to be a red-letter event for every stakeholder in this thriving industry.
TFWA, under the motto 'by the trade, for the trade', has always supported efforts to develop and protect the duty free & travel retail industry. In this regard it is now instigating a Travel Retail World Council whose mission is to represent, protect and help build the global duty free and travel retail industry through support to all regional industry associations.
For more information about the exhibition, conference, research and other activities of TFWA please consult http://www.tfwa.com.