Boosting Egyptian Duty free
In his opening speech of the annual Middle East Duty Free Association conference, which was held in Cairo this year, Minister of Trade and Industry Rachid Mohamed Rachid disclosed new figures relating to duty free sales in the region.
Middle East retail for travellers and sales of duty-free shops reached $2.4 billion for the last year, which comprises 6.7% of the global market. At the top of the list, European sales stood at $15.2 billion, followed by Asia and the Americas. The Middle East placed fourth.
The duty- free market in Egypt recorded sales revenues of LE24 million in the first quarter of FY2010/2011, with a year-on-year growth rate of 34.4% -- It had stood at LE18 million for the same period last year.
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