Africa
BRICS investable wealth reaches US$45 trillion in 2024 with surge in millionaires expected in next decade
Brazil, Russia, India, China and South Africa (BRICS) and new members Egypt, Ethiopia, Iran, Saudi Arabia and the UAE now contribute to 36% of the global GDP and are collectively home to 1.6 million millionaires.
The leading global travel retailer today reported €5,018 million in revenue for 2023, with recurring EBIT in the division almost doubling.
SSP will add brands including KFC, Costa Coffee, Camden Food Co. and Levito Pizza & Pasta to its portfolio at Egypt’s second busiest airport.
The airport company said it is interested in engaging with “companies that own, manage or have a franchise agreement with multiple international brands or trademarks in F&B and/or retail”.
KENYA. Plaza Premium Group has opened an exclusive lounge at Jomo Kenyatta International Airport (JKIA) in Nairobi. Located on level 2 in Terminal 1D, the 366sq m lounge has a seating capacity of 150. The space was designed to bring passengers comfort and convenience, allowing them to relax, eat, drink, work and refresh. The lounge’s interior […]
Markets react favourably to the US beauty powerhouse’s latest quarterly results with its previously beleaguered share price surging +12.05% by end of trading. Travel retail inventory challenges in North Asia are easing, insists Freda.
The Estée Lauder Companies today reported net sales of US$4.28 billion for its second quarter ended 31 December, down by -7% year-on-year. Organic net sales fell -8%, reflecting “the expected challenges in Asia travel retail as well as softness in prestige beauty in Mainland China”, the company said. The decrease also reflects a -1% headwind […]
Al Nassma is supporting technology that is enabling cocoa farmers in West Africa to use fuel more efficiently and sustainably.
Avolta CEO Middle East & Africa Abdeslam Agzoul comments on regional performance, investment priorities and the African opportunity
At the event, Scent of Africa showcased its Eternal Legends Collection, outlined initiatives for 2024 and highlighted the appeal of ‘Made in Africa’ fragrances.
Encouraging news for aviation and travel retail from the UNWTO, which reports that 975 million tourists travelled internationally between January and September, an increase of +38% year-on-year.
Le Clos, present at Dubai International Airport Terminals 1 and 3, has long-standing relationships with leading distillers and winemakers.
We bring you pictorial highlights of the Middle East & Africa Duty Free Association (MEADFA) Conference, which took place this week in Accra, Ghana.