Latin America

Montico makes a Smart move to assist new operators as dozens of new Brazilian border stores may open

Looking for a “Smart” way to get products into the new Brazilian border stores? Well-known Montevideo-based duty free executive Marcelo Montico has established Smart Duty Free, a new distributor targeting companies looking to enter the Brazilian border stores as well as other regional travel retail operators in Latin America. Smart will target the new border […]

Iguazu airport begins first intercontinental flights

Argentine President Mauricio Macri on Friday, August 23, “christened” the first intercontinental flight from Puerto Iguazu International Airport, as Air Europa officially inaugurated flights from Iguazu to Madrid, Spain. This is a milestone event for the airport, which in 2018 surpassed a million passengers in one year for the first time.  The airport is operated […]

Bacardi creates “Hacienda Patrón” with signature Tasting Bar at Cancun airport

“Largest brand activation undertaken since Patrón Tequila joined the Bacardi portfolio in 2018” Bacardi Global Travel Retail has launched a Patrón Tequila tasting bar at Cancun International Airport designed to create a “home away from home” experience reminiscent of Hacienda Patrón in Jalisco, Mexico. The signature bar is the center-piece of a 5-year collaboration between […]

Top Brands International buys Neutral Duty Free

  Panamanian company Top Brands International has just announced that it has acquired Neutral Duty Free, the largest duty free chain in Uruguay, employing more than 500 staff across its nine locations. No financial details were released. With this acquisition, Top Brands surges to become one of the largest duty free operators in the region, with […]

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 […]

ForwardKeys: Argentina’s economic woes entice tourists

International travelers are flocking to Argentina, taking advantage of the poorly performing peso to boost the value of their holiday spending money, reports travel booking analyst company ForwardKeys. Bookings for March to May are ahead 11.2% compared to last year, says the research firm. For South America as a whole, bookings are ahead 5.8%. In […]

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