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As we rapidly approach the Holiday Season, our desks are inundated with end-of-year figures, many of which provide critical analysis and data for the travel retail industry.
Today, Travel Markets Insider shares the busiest routes from OAG for 2024, an overview of airline profitability and future forecast from IATA, and a report on record-setting visitor spend in the U.S. from NTTO.
BY THE NUMBERS
As it finally comes roaring back to recovery, Asia dominates OAG’s busiest air routes. While in the United States and Europe, the New York JFK to London Heathrow route is the busiest for both regions. See full story on page 1-2.
IATA forecasts that the airline industry – which showed a slight increase in profitability this year – will generate total revenues of more than one trillion dollars next year for the first time—despite ongoing cost and supply chain challenges. Expenses, however, are expected to be around $940 billion, translating into a net profit of $7 per passenger, below 2023’s $7.9. More details on page 2.
NTTO. International visitors spent a record $21.6 billion on travel and tourism-related activities to the U.S. during the month of October, and more than $242 in the January-October period. Find more information on Page 2.
PEOPLE
L’Oréal Travel Retail Americas is getting a new general manager. Julia Seva, who held the position for the past three years and steadfastly rebuilt the business in the region, will take on a new role in the company. She is being succeeded by Petrina Kho, currently deputy general manager of L’Oréal’s Urban Decay brand. Page 1.
IN THE TMI SPOTLIGHT
King of Reach by B&S, together with Mark Anthony Brands and Avolta, target the Americas with key activations for its spirit brands White Claw Vodka, Glendalough and Bearface. Page 3.
Duty Free Holdings reveals ambitious plans for growth. In an exclusive interview with TMI, Duty Free Holdings’ new president, James Mullaney, discusses the company’s plans to expand the business in private airports and internationally. Page 4.
SPECIAL LOOK AT ASIA
With the recovery in Asia dominating the news and year-end data, TMI is honored to be providing some expert insight into these developments – and their impact on travel retail in the region – from one of the most respected and knowledgeable experts in the industry, APTRA President Sunil Tuli, who is also Group Chief Executive of King Power Group Hong Kong. Page 5 & 6.
In more news from Asia, China Trading Group, the leading digital marketing company and research firm for Chinese traveler data, is partnering with Essential Communications (Rowena Holland) for an awareness campaign that focuses on global travel retail insights. Page 6.
China has expanded its visa-free entry program to 38 countries as it works to rebuild its tourism sector. Page 6.
