Duty free retail sales increase 13% to USD39bn in 2010: Tax Free World Association

Tax Free World Association stated global duty free and travel retail sales rose by 13% between 2009 and 2010, or by 11% in local currencies, to USD39 billion, according to Premium Beauty News. Europe remains the largest duty free and travel retail market, worth USD13.8 billion (35.4% market share), followed by Asia-Oceania (USD12.7 billion and 32.7% market share) and the Americas (USD8.9 billion and 23% market share). Perfumes and cosmetics account for 30.8% of the total market, a 13% year-on-year increase.