Total opportunity for airport retail to be approximately $9.3 billion by 2030 from its estimated market size of $1.4 billion in 2019, said Knight Frank India, a global property consultancy.
The real estate opportunity for airport operators in India is projected to be $1.6 billion by 2030. Duty -free retail, which is about 50% of the total retail opportunity currently at $0.7 billion, is expected to grow to $2 billion by 2030, says a study ‘Catch them Moving’ by the consultancy firm.
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The duty-free market size in India, currently estimated to be at $0.7 billion, expected to reach $2 billion by 2030. According to Knight Frank Research, Delhi’s Indira Gandhi International Airport earns close to $10-11 revenue per passenger while Chhatrapati Shivaji International Airport, Mumbai, earns a duty-free revenue in the range $9-10 per passenger and Kempegowda International Airport, Bengaluru, earns duty-free revenue in the range $5-6 per passenger.
Source: Economic Times
