SINGAPORE, 3 April 2020: Over 320,000 local jobs across the Asia Pacific region and a USD36 billion industry are at risk of being overlooked by politicians as they devise financial rescue measures to cope with the Covid-19 crisis.
The Asia Pacific Travel Retail Association is calling on governments in over 45 countries across the region to support 320,000 local and front-line employees in the region by including the duty-free and travel retail industry in the same financial support packages as airlines, airports and maritime industries.
‘The report Economic Impact of Duty-Free and Travel Retail in Asia Pacific’ published last October details a USD36 billion industry that provides 320,000 jobs, contributing almost USD15 billion to GDP across the Asia Pacific.
Airport Retail and commercial services, including food and beverage, constitute a crucial business sector providing up to 60% vital commercial income for airport owners, outpacing aeronautical revenue streams. It is the most significant direct contributor to the investment in Asia-Pacific’s aviation infrastructure and ongoing development of world-class national gateways, the region’s hubs to the world.
APTRA president, Grant Fleming commented: “The dynamics of duty-free and travel retailing are intrinsically linked to the aviation and maritime industries, and its viability is entirely dependent on the return in passenger traffic.”
He noted that the duty-free and travel retail industry integrates deeply with the region’s vital tourism market – directly with operators such as airport retailers, airlines, cruise-lines and downtown shopping malls and also indirectly with everything from hotels to travel agents and tour guides.
“We are calling on over 45 governments across the region to recognise the unique economic contribution of the entire Travel Retail industry and to prioritise support packages to our channel, and the many that are, and will be, affected financially by COVID-19.”
The Asia Pacific Travel Retail Association is a not for profit membership organisation whose mission is to strengthen and protect the duty-free and travel retail industry In over 45 countries in APAC, across airports, maritime, retailers, food & beverage operators and consumer brands.