Brazil

Brazil authorizes two more border stores

An additional two duty free stores have been authorized to open by the Receita Federal, the Brazilian Customs Authorities. Emporio Duty Free, owned by JR Correa & Cia and situated in Barra do Quarai (Sister town of Bella Union in Uruguay) and New York Comercio Importacao-Exportacao located in Uruguaiana are the two new members of […]

Latin America’s big economies falter: Brazil, Mexico and Argentina all contracting in first quarter

The International Monetary Fund cut its outlook for global growth to the lowest rate since the financial crisis in its latest outlook issued in April. The world economy will grow 3.3 % this year, down from the 3.5 % the IMF had forecast for 2019 in January, according to the latest World Economic Outlook. World trade, which had been growing at about 5%, expanded by 3.8% last year and is forecast to rise 3.4% in 2019. Latin America is particularly hard hit, […]

The State of São Paulo, Brazil, evaluating PPP opportunities for 20 regional airports through IOS Partners

International economic development consulting and financial advisory firm IOS Partners has been awarded a major multi-airport master planning consultancy to evaluate the opportunities for private-public partnerships for regional airports in the State of São Paulo, Brazil. Under the agreement, IOS Partners will focus on rationalizing State participation in the regional airports, and identify and compare […]

First Brazil border shops could open before year end

Brazil may finally see the opening of its first duty free border stores in December, following the election of Jair Bolsonaro who will succeed Michel Temer as president on January 1. ASUTIL Secretary General Jose Luis Donagaray, in a press briefing held last week, says he expects one or two small operators could open the […]

GUCCI BLOOM blossoms with Coty in Brazil

The vision for GUCCI BLOOM in travel retail was to create a ‘pop-up’ store that strongly communicated GUCCI BLOOM’s key attributes of vitality, creativity, quirkiness and uniqueness. Coty is working with Dufry in Brazil to host this stunning animation in August and September. The ‘pop-up’ created by Coty captured the attention of passengers and transformed […]

Currency crisis in Brazil and Argentina

Buenos Aires-based John Gallagher looks at the economic situation in Latin America and studies how recent currency fluctuations are affecting the duty free business.   Currency devaluations in Brazil and Argentina in May and June have led to severe currency fluctuations in both countries, with an overspill that impacts all facets of their economies including […]

Is Latin America’s economic crisis over?

John Gallagher reports from Buenos Aires. As we head into the last quarter of 2017, travel retail suppliers and operators in Latin America are asking if the tentative economic recovery of the first half year is here to stay. Brazil The fall in raw material prices in early 2014 and Brazil’s massive Lavajato corruption scandal brought about […]

Brazil’s airport privatization marches on: Fraport signs concession agreements for Fortaleza and Porto Alegre

Fraport AG has signed the concession agreements with the Brazilian government for managing and developing Fortaleza (FOR) and Porto Alegre (POA) airports. Following its double airport win at the government’s public auction on March 16, 2017, Fraport AG has been planning and creating the foundation for the new Fraport Brasil airport companies, which are expected to […]

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