China Duty-Free Reportt.docVIP

China Duty-Free Reportt 　　 A.Burgeoning Global Tourism Retail， Chinese Consumers Become the Center Force 　　1. Burgeoning Global Tourism Retail 　　According to The Fortune Character Institute’s projection， the global duty-free business has created a $50 billion market， within which the top 25 players account for 75% of the total sales. In 2012， China Duty Free Group （CDFG） registered a sales record of 657，000 million Euros， and a 33.16% year on year increase placed it at number 14 on the list. This is followed closely by Sunrise Duty Free at number 15， with a sales figure of 645，000 Euro. 　　2. Chinese Consumers Become the Largest Consumer Body in Global Tourism Retail 　　Each year， there are more Chinese going aboard. 2010 marked a record 50 million tourists， since then the growth rate has stabilized at 20%. In 2012， 83 million Chinese travelers crossed the borders. Awakening to the stable growth of China’s macro-economy， more and more wealthy Chinese are in the mood for overseas travel， as a result， the number of tourists going abroad have been increasing. With regard to the numbers of passengers at each domestic airport： in 2012， 21 Chinese airports recorded an aggregated passenger volume of 500 million， Beijing Capital Airport had the largest number with 8.193 million， followed by Guangzhou Baiyun International Airport at 4.831 million， and the third and fourth place were taken by two Shanghai airports， PVG and SHA. In short， the surge of overseas and domestic travel has laid significant foundations for the development of China’s duty-free business. 　　In fact， Chinese consumers constituted the largest consumer group in the global travel retail market， holding up half of the European luxury market. Based on data disclosed by The Financial Times， annual spending of Chinese consumers in Britain was ￡300 million， equal to 2.78 billion RMB. At Heathrow Airport in London， Chinese passengers only account for 1% of total passengers， but make a 25% contribution to