Raven Fox report focuses on Latin American opportunities

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Raven Fox Research has just published the latest in its series of regional reports on airport developments. 'Airport Retail Opportunities Latin America & the Caribbean' is a detailed study highlighting new commercial opportunities at more than 70 airports in 24 countries. The new report identifies developments airport-by-airport for each country and includes fact files for over 40 airports where development is taking place. In addition to a country-by-country analysis of airport developments, key issues affecting global and regional development are analysed and a directory of key contact details for airports and consultants is included.

Despite the recent slowdown in international travel, airport privatisations are progressing at a faster rate in Latin America than in any other part of the world as the region's long-neglected airport infrastructure is developed to cope with rapid air traffic growth. Latin America's air passenger traffic grew by over 150% during the 1990s and the number of tourist visitors to Latin America grew by almost 10% a year on average in the second half of the 1990s. Tourism growth has been more moderate in the Caribbean than in Latin America in recent years but airport retail sales in Latin America and the Caribbean as a whole have been growing by around 12% a year.

Some airport projects in the region have been delayed as traffic forecasts are revised downwards due to the current downturn in travel. However, with the long-term forecast for Latin America and the Caribbean one of renewed rapid growth in international and domestic traffic, an extensive airport development programme remains essential.

Substantial investment is needed to develop the region's long-neglected airport infrastructure to cope with rapid air traffic growth. Airport privatisations represent major retail opportunities and are also an important focus for tourism growth in the region. Privatisation of Latin American airports is creating a steady stream of refurbishments, terminal developments and other opportunities for retailers. The focus for airport retailing is on these new developments, given that the major duty-free operators such as InterBaires and Brasif have secure long-term concessions for their existing locations.

Airport privatisation programmes have been implemented in almost all countries in South and Central America. Privatisation of Caribbean airports is also taking place, albeit it more gradually. Privatisation and commercialisation are creating a host of new opportunities in Latin America and the Caribbean and are expected to have a huge effect on the airport retail market in the region. Retail facilities, both airside and landside, are being improved through private investment while a more commercial outlook with better marketing is expected to generate additional business and higher retail sales.

New terminals planned for Porto Alegre and Sao Paulo airports in Brazil, at Montevideo Carrasco airport in Uruguay and at Cuzco in Peru are among the many projects underway which are detailed in the report.

• Click here to view the index of reports by Raven Fox Research and their contents and prices, or contact senior research manager Sandra Newman on telephone +44 207 779 8247 or email snewman@travelretailworld.com