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TFWA ASIA PACIFIC SHOW REVIEW


a few years ago. Highlighting geopolitical tensions,


exchange rate volatility and unpredictable consumer demand, he again emphasised the need for the industry to be agile in its approach. “We must be innovative,


resourceful, adaptable and resolute,” he stated. He then reinforced APTRA’s


key message of commitment to protecting the region’s industry, by uniting in a common purpose, laying aside the strict margin-led approach to competition. He said APTRA’s rolling


This year's Singapore Swing Party returned to Universal Studios on Sentosa Island.


airports continue to increase their shares, but downtown shops and tax free shopping centres delivered the strongest performance in year-on- year growth,” Juul-Mortensen said, and he noted the ‘outlook for the inflight market was less positive’. By 2025, Asia Pacific’s share


of the duty free and travel retail market is expected to rise to 47.5%, totalling $57bn. This is supported by a corresponding rise in the region’s share of total air passenger traffic, which is forecast to rise to 37.8% by 2020. Drawing on the event’s theme


‘Re-igniting our industry’, the TFWA President acknowledged that underlying unrest and socio- economic and geo-political changes in the past 12 months continue to have a profound effect on the industry and the ways it conducts business. Turning to global economic


factors, he referenced the impact of the UK’s decision to leave the EU as creating huge uncertainty in the country, in Europe and beyond. Returning to Asia, the South


Korean government’s decision to site the US’s THAAD anti-missile system has led to alarming sales declines in


“In many instances, airports operate in isolation or as part of small regional groups without the benefit of healthy data or examples of best practice.”


Jaya Singh, APTRA President 20 TRBUSINESS


the biggest duty free market, as sales dropped by -40% recently on the Chinese Government’s restriction on certain travel elements. [The Chinese Government has long


objected to the positioning of the THAAD, since it maintains that the system’s radar and surveillance systems have the capability of ‘snooping’ on China’s military installations as well.] While this has been partially


mitigated by a rise in outbound Korean travel, the incident is of concern for retailers, operators and brands.


Seventy years of duty free Juul-Mortensen reminded delegates that 2017 marks the 70th anniversary since the founding of duty free at Ireland’s Shannon Airport, with a TFWA project designed to mark the milestone in the pipeline for later this year. He ended by drawing on


Generation Research’s 10-year forecast to show that sales growth in the Asia Pacific region will account for some 47.5% of global sales, outstripping global growth. “That is worth fighting for and


we can only do that by working together,” he said. The value of the industry’s


associations were highlighted, with the TFWA President urging stakeholders to become involved if they were not already. Echoing such sentiments, Jaya


Singh, President, APTRA then took to the stage to emphasise the positive sales and market share of the region, but stressed that sales were less than


programme of consumer behaviour research, backed by m1nd-set, analyses key characteristics of shopper segmentation, including insights into key tier two and tier three cities in China. Meanwhile, the inaugural APTRA


Airport Forum, hosted by Singapore Changi Airport, took place the day before the show began. “In many instances, airports


operate in isolation or as part of small regional groups without the benefit of healthy data or examples of best practice,” Singh said. Anil K. Gupta, Author,


Commentator and Member of the World Economic Forum, following Singh on stage. He began by alluding to the recent


French presidential election victory for Emmanuel Macron, which was ‘significant, socially, politically and emotionally’ in signifying the shift in direction in which the world is headed. He highlighted the conflict


between globalism and nationalism, the developments of which the world has experienced for some time. In a following Q&A session with


the TFWA’s John Rimmer, Gupta touched on shrinking growth in Japan, in part due to its rising elderly population, but on the other hand he acknowledged that it is embracing globalisation in a rapid way. Addressing the election of the new


US President, Gupta predicted that the impact of Trump ‘will not be huge for Asia’, as its economic future now depends less on the US or Europe. «


For more extensive coverage of the TFWA event, visit TRBusiness.com.


JUNE 2017


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