Dubai Duty Free has set a goal to exceed its 2019 sales record and return to pre-pandemic levels by achieving sales of over $2.029B in 2023. During a panel discussion at the Arabian Travel Market in Dubai, Colm McLoughlin, the Executive Vice Chairman and CEO of Dubai Duty Free, stated that the company had already surpassed its 2019 sales figures for the first four months of 2023.
“The target is to take Dubai Duty Free back and surpass 2019, and that is happening so far,” McLoughlin said. “Looking at the past four months, business has already increased over 2019 figures even though the forecast [airport] traffic of 80 million people won’t be as high as 2019 levels, in terms of business we hope this year will be the highest yet.”
In 2022, Dubai Duty Free saw a significant increase in sales with $1.74B, despite a two-year pandemic lull, surpassing its 2021 numbers by 78%. Although perfumes and cosmetics remained the highest-selling category, the mobile phone category also experienced a boost, with 33,000 iPhones sold in the first four months of the year.
As Dubai Duty Free approaches its 40th anniversary on December 20, McLoughlin is optimistic about a record year as the city strives to restore tourism numbers to pre-pandemic levels.
“While the Indian market remains just as important, this year has seen a surge in Russian and Chinese tourism numbers. Traffic from China is continuing to grow and will be very big by the end of this year,” McLoughlin added.
At the Arabian Travel Market, McLoughlin, the sole remaining member of the original 100 employees who established Dubai Duty Free 40 years ago, was honored with the inaugural Pearl Award in recognition of his contribution to the travel retail sector and Dubai Duty Free’s impact on the Dubai economy.