From 12-16 May, the annual TFWA Exhibition was held in Singapore.
Once again it was a busy week with many meetings, and wine and Sake tastings.
In 2018 sales revenue in the duty free/travel retail industry reached US$76 billion, up 10% year on year, with Asia Pacific representing US$35.2
billion, almost 47%.
Inbound tourism in Asia Pacific was up 31%. Wine and spirit sales in Asia Pacific were about US$4.2 billion up 10% year on year.
In 2018 there were 1.4 billion tourists, up 6% year on year. This is 4 times the number of tourists in 1980!
Although we are experiencing something of an economic slowdown at present, the pace of travel, communication, innovation, and growth in purchasing power continues.
Therefore the need for new fresh ideas and brands will continue to grow – and Diverse Flavours will continue to offer new exciting brands and experiences to a wide range of consumers in the Travel Retail environment.