Global Duty Free & Travel Retail Industry on Course for Annual Sales of 50 Billion US Dollars

Global Duty Free & Travel Retail Industry on Course for Annual Sales of 50 Billion US Dollars PR Newswire PARIS, November 14, 2012 PARIS, November 14, 2012 /PRNewswire/ -- "The most recent annual sales figures from Generation showed our industry reached 46 billion US dollars in 2011. Even allowing for the positive impact of exchange rates against the dollar, this was a performance to be proud of." To view the Multimedia News Release, please click: http://www.multivu.com/mnr/58643-tfwa-world-exhibition-2012 ndSpeaking at the annual TFWA World Exhibition Conference in Cannes on Monday 22 October, Erik Juul-Mortensen, President of TFWA commented that, "Our brands, resilient and resourceful, demonstrated growth across all categories, with luxury goods leading the way." Highlighting the strength of the Asia Pacific region he continued, "This 2011 performance was all the more remarkable given the persistent currency turmoil and the continued economic gloom within the EU, particularly the Eurozone countries, a weak US economy and political and social unrest in North Africa and the Middle East." Noting the continued growth in 2012, Juul-Mortensen said, "If we maintain this current direction, and we avoid major crises, we are on course to achieve sales of over US$50 billion this year. The latest sales growth forecasts see travel retail potentially hitting $60 billion plus by 2015 and $120 billion by 2020." Keynote speaker Madeleine Albright, former U.S.