Airport retail in India to grow to $9.3 bn by 2030 from $1.4 bn: Report

The airport retail segment in the country is expected to grow to $9.3 billion (about Rs 66,000 crore) by 2030 from $1.4 billion (about Rs 9,940 crore) at present, with as much as $2 billion (about Rs 14,200 crore) coming from duty-free sales, a report said on Tuesday.

Real estate opportunity for Indian airport operators is projected to be $1.6 billion (about Rs 11,350 crore) by 2030, global property consultancy Knight Frank said in its report on transit retail.

“The total opportunity for airport retail to be approximately $9.3 billion by 2030 from its current estimated market size of $1.4 billion in 2019,” it said.

Duty-free retail, which is about 50 per cent of the total retail opportunity at $0.7 billion currently, is expected to grow to $2 billion during this period, it stated.

According to Knight Frank Research, Delhi airport earns close to $10-11 duty-free revenue per passenger, while Mumbai earns a duty-free revenue in the range $9-10 per passenger.