BREXIT

The European Travel Retail Confederation (ETRC) has reported “excellent feedback” from members of parliament as part of its comprehensive lobbying programme to reinstate duty-free and tax-free sales between the UK and EU on “Brexit”. The aim of the campaign, which ...

New research by Swiss agency m1nd-set has revealed the duty-free industry is set for strong gains across Europe once the UK officially leaves the European Union, as Brexit discussions get underway. Based on data compiled through m1nd-set’s Business 1ntelligence Service (B1S), the short and ...

United Kingdom (UK) Prime Minister Theresa May has signed the letter that will formally commence the UK’s exit from the European Union (EU) The letter, which triggers the two-year Article 50 process, was delivered to European Council president Donald Tusk ...

Following United Kingdom Prime Minster Theresa May’s announcement last week indicating the UK will seek to leave the European single market, leading to a hard Brexit, intra-EU duty-free sales could be reinstated as early as April 2019, with duty-free retailer ...

Dufry saw turnover swell 39.4% in the first nine months of 2016 to SFr5.87bn ($6.06bn) as it starts to see the positive effects from its acquisition of World Duty Free (WDF), confirmed in 2015, where its business added 42% to the turnover ...

The UK is reaping the benefits of its decision to leave the European Union last summer after the country saw total tax-free sales in the UK grew by 45% in the last quarter, driven by a growing number of visitors ...

UK Prime Minister Theresa May has refused to comment on whether Britain will remain in the European Union’s single market, as she prepares to meet European Council president Donald Tusk today, reports bbc.co.uk. Despite pressure to set out the UK’s post-Brexit ...

Tax-free shopping specialist Global Blue has emphasised the effect terrorism has had on tax-free shopping (TFS) sales  in Europe, reporting tax-free spending decreased 20% year-on-year in July. Concerns over the continued threat of terrorism attacks in Europe has had a destabilising ...

The World Travel & Tourism Council (WTTC) has declared global tourism remains resilient to terrorism, Brexit and further macroeconomic challenges. The WTTC found global travel and tourism continues to register strong growth despite challenges from terrorism, political turmoil, global economic ...

The UK experienced a 7% increase in spend from visitors in July as international tourists flocked to the country to enjoy the weaker pound sterling following Brexit, according to retail tourism experts Global Blue. Visitors from Japan, Indonesia and the US ...

Amid tough trading conditions across Middle Eastern travel-retail and duty-free, retailers remain positive and are relishing the opportunity to demonstrate their resilience, says Andrew Pentol

Travel retailer Dufry Group has reported turnover growth of 62% in the first half of 2016 to SFr3.61bn ($3.69bn)  from SFr2.2bn the same period the previous year. While the consolidation of World Duty Free (WDF) added 66.6%, pro-forma organic growth—which includes ...

Spanish airport operator Aena Aeropuertos reported total consolidated revenue increased to €1.73bn ($1.9bn), an 8.4% growth compared to the first half of 2015, of which commercial revenue both on and off-terminal accounted for 26.8% (25.9% in H1 2015). Consolidated net profit ...

Heathrow airport has seen retail revenue increase 7.7% year-on-year to £280m ($369m) in its half-year results ending June 30 2016, as it adjusts to a transformational period dealing with the post-Brexit vote and a retail renovation project at terminal 4. ...

In a dramatic decision on June 23 the United Kingdom (UK) voted to leave the European Union (EU) with a 51.9% majority in favour of the “Leave” campaign. After 42 years of membership, the UK electorate held a vote on the country’s membership as ...