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We hope that all our readers had a restful, joyful holiday respite and are now returning to the workplace ready for a successful year.
TMI opens our first newsletter of 2024 with the welcome news that the U.S. and European Union reached a last minute deal that averted the imposition of 50% tariffs on American whiskey that were supposed to go into effect on January 1. The long-running dispute is related to a broader issue related to steel and aluminum. See latest developments in our lead story on page 1.
The Corporate Transparency Act. Small U.S. companies must now disclose their beneficial owners as part of new regulations that went into effect at the beginning of the year from the U.S. Department of the Treasury’s Financial Crime Enforcement Network. More details on page 1.
In Memoriam: Garry Dickinson. We are very sad to report the passing of Garry Dickinson of Abbotsford Duty Free in British Columbia, Canada. Garry – who opened his store in 1986 with wife Carolyn – was instrumental in developing the Canadian land border duty free industry. Page 1.
CARIBBEAN: BY THE NUMBERS
The Caribbean continues to attract record numbers of tourists, a development that began during the pandemic and has continued to gain momentum. TMI takes a look at the latest numbers from some key islands.
Bahamas tourism arrivals outperform expectations. Page 2.
U.S. Virgin Islands tourism booms as government sets ambitious goals for 2024. Page 2.
Cancun breaks previous tourism records. Page 3.
New Tulum airport opens. Page 3.
The Cayman Islands reports record visitation in November 2023 as YTD approaches 2019 levels. Page 3.
Jamaica expects biggest ever winter season. Page 3.
CONCESSIONS, DEALS & PEOPLE
SSP Canada opens collection of restaurants at Ottawa Macdonald-Cartier International Airport—local and Canadian companies add a distinct “taste of place.” Page 4.
WH Smith North America names new VP of Design & Construction. Page 4.
Shiseido launches venture fund to help build companies within the beauty wellness space. Page 4.
Harding+ and Dataviva complete project to implement improved demand forecast and inventory planning. Page 5.
OTG to be acquired by investment consortium to reach strategic growth. Page 5.
Lyre’s Non-Alcoholic Spirits features exclusively in three DFS U.S. airport stores. Page 6.
Ricola extends distribution to LATAM and the Caribbean with B&S. Page 6.
Pallini partners with Flamigni for Italian co-branded confectionery for the holidays. Page 6.
L’Occitane Group appoints Laurent Marteau as new Group CEO. Page 6.