Retail In Airports Will Grow To $49 Billion By 2021, Research Finds

By Tonya Garcia Markets MarketWatch Pulse

Global airport retailing will grow 27% to $49 billion by 2021, according to research from GlobalData, an analysis, data and solutions company for industries including retail, tech and healthcare. In 2016, spending in airports, including duty-free shops, totaled $38 billion. An increased number of travelers as well as increased security over recent years are a "captive audience" who have "time to kill and, especially when on holiday, is in the mood to spend." Asia-Pacific airports generated the most spending in 2016 with $14.8 billion, with Chinese travelers providing a boost. Europe tallied $10.7 billion in 2016, with the Brexit decision and the decline in value of the pound attracting tourists. The U.S. has made gains, but, GlobalData says, President Trump's efforts to curb immigration "is making regular travelers think twice about visiting the country." The SPDR S&P Retail ETF is down 10.3% for the year so far while he S&P 500 index is up nearly 9% for the period.

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