Strong Latin recovery boosts ASUTIL prospects

Print Article E-Mail Article

A strong economic recovery in Latin America, led by renewed growth in Argentina and Brazil, has led to a boom in duty-free sales on the continent

A strong economic recovery in Latin America, led by renewed growth in Argentina and Brazil, has led to a boom in duty-free sales on the continent. South American duty-free association ASUTIL president Samuel Kauffmann confirmed to TRW that recent sales had surged and said the outlook was bright after successive years of losses in the region.

The upbeat news comes as ASUTIL plans its annual conference in partnership with TRW publisher Raven Fox, an event that will be held this year in the Brazilian resort of Salvador de Bahia from September 8-10.

Kauffmann said: "The outlook for the rest of the year is positive, and with one or two exceptions most of the countries in the region will enjoy economic growth in 2004." Already this year many of the leading duty-free operators in the region have posted double-digit growth in sales from month to month.

Kauffmann's company, Brasif, has experienced sales rises of 60% above 2003 levels in its Brazilian stores, and hopes to finish the year with sales equivalent to those of 2000. InterBaires, Argentina's leading airport operator, is hoping to post sales of $70m this year, after $49.8m in 2003.

Of the conference venue, Kauffmann said: "Salvador is a beautiful city, and we are sure that the new venue will be a popular choice for our members and conference delegates. We are putting the finishing touches to the conference agenda, and we will be addressing the positive aspects of the new dynamism in the duty-free business in Latin America."