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, […]
Mexico
New Mexico City Airport cancellation confirmed
The new Mexico City International Airport, which has been under construction at a greenfield site in Texcoco since 2014, has been cancelled, confirmed Mexican Communications and Transport Minister, Javier Jimenez Espriu, last week. Mexico’s President Andrés Manuel Lopez Obrador, who took office at the beginning of December, made a campaign promise to hold a public […]
3Sixty awarded the duty free contract for Costa Maya International Cruise Terminal
3Sixty (formerly known as DFASS) has been awarded a 10-year contract for the duty free concession at the International Cruise Terminal in Costa Maya (Mahahual), Mexico. The new contract with the ITM Group covers a 3,400 square foot full walk-through retail store located directly in front of the cruise pier, which should be operational in […]
Mexico’s new president to scrap $13 Billion Mexico City Airport Project
Mexico’s incoming President Andres Manuel Lopez Obrador this week announced that he is stopping construction on the $13 billion Mexico City airport, which is already one third completed. According to Bloomberg News, Lopez Obrador scrapped the project after almost 70% of 1.07 million people who participated in a national referendum voted against the airport. The […]
ASUR extends Dufry’s Cancun concession at Cancun for 10 years
Dufry has signed an agreement with Aeropuertos del Sureste (ASUR) for the extension of the Cancun airport concession in Mexico to operate duty free and duty-paid shops at Terminal 2, 3 and 4 for another ten years. The contract at Cancun airport, which welcomes close to 20 million passengers per year, covers retail space of […]
ASUR to issue duty free tender for Cancun and Cozumel airports in June
Grupo Aeroportuario del Sureste (ASUR) will be issuing a tender for a Master Concessionaire to operate the duty free concessions at Cancun and Cozumel airports, which are due to expire in May 2017. The privatized airports have been operated by ASUR since 1999. “We will have the tender documents out no later than June […]
DFASS wins Cozumel cruise terminal duty free contract
Miami-based travel retailer DFASS has been awarded the duty free concession for the International Cruise Terminal at Cozumel, Quintana Roo following an open tender. The contract is for a ten-year term and covers a 10,000sqf duty free shop located directly in front of the cruise pier. The space should be turned over to the retailer […]
Patrón tequila: crafting a new ultra-premium spirits category
The perception of tequila has shifted drastically over the past two decades. Its image has evolved from a harsh shot college students ritually chugged with salt and lime, to a smooth sipping spirit enjoyed neat or on the rocks. Patrón, the world’s first ultra-premium tequila, has played a large role in transforming that image, helping […]
Herradura: bringing quality tequilas to the market since 1870
Although Herradura tequila did not become part of drinks company Brown-Forman until 2007, both companies have been around since just after the American Civil War, creating world-renowned spirits for almost 150 years. Both companies also shared a tradition of quality and innovation, one of the foundations that has helped drive Herradura as it has spread […]
Duty Free City: catering to a new luxury shopper on the Mexican border
Describing itself as a “lifestyle destination” for luxury brands located along the US-Mexico border, Duty Free City opened its beautiful 14,000 square foot flagship store in San Ysidro, California with a gala event attended by 500 last November. Providing a luxurious, service-focused and interactive shopping experience within a sophisticated Spanish Colonial inspired aesthetic, Duty Free […]
Shiseido opens first travel retail boutique in the Americas with Duty Free Partners
Shiseido opened its first standalone boutique in the travel retail channel in the Americas in Guadalajara International Airport in February. The 38sqm boutique was opened in partnership with Miami-based Duty Free Partners, and is only the second Shiseido travel retail boutique store worldwide, and the first ever in an airport. (The other Shiseido travel retail […]
DFASS and new Eastern Air Lines sign long-term agreement
The DFASS Group and Eastern Air Lines announced today that they have agreed on a long term multi-faceted partnership. Eastern, an iconic name in aviation history is being re-launched and will provide charter operations later this year using its fleet of 737-800s, with initial operations slated for the Bahamas, Jamaica and Mexico. DFASS and Eastern […]
ASUR: Total passenger traffic for December 2014 Up 11.6% YOY
Mexican airport group Grupo Aeroportuario del Sureste, S.A.B. de C.V. (ASUR), reports that total passenger traffic for December 2014 increased by 11.6% compared to December 2013. International traffic rose 11%, driven by a 12.3% increase at Cancun, and 16.4% growth at Veracruz. International traffic was down at the seven other airports in the ASUR group. […]
