IRAQ. Iraq Duty Free – the exclusive duty free retailer at Iraq’s major airports of Baghdad, Basra and Sulaimaniyah – posted +24% sales growth year-on-year to late September, including +29% at Baghdad International. That’s according to owner Financial Links, which has operated the business for the past 12 years.
To build on its position in the market, the retailer is expanding its operations.
“The renovation of the shops in the third terminal at Baghdad International Airport took place in 2016 and [these are] expected to be operational soon,” the company said. The existing 1,626sq m of space will increase by 608sq m.
In addition, Iraq Duty Free is planning to introduce a new shop design at its existing locations in early 2017.
The company mainly serves Iraqi travellers. “They are interested in high-end brands and have strong spending power”, the company noted, “due to relatively high salaries compared to neighbouring countries. Also, this year new destinations and flights were introduced due to high consumer demand.”
*Read more on Iraq Duty Free in the forthcoming MEADFA Official Guide, a publication from The Moodie Davitt Report that will appear at the Middle East & Africa Duty Free Association Conference. The event takes place in Dubai on 28-29 November.