Real Estate

Dubai Duty Free Achieves Record $2.2 Billion in Sales for 2024

Airport retailing records the highest point of success through Dubai Duty Free as it gets the yearly sales up to AED7.901bn ($2.164) in 2024. The year-end result was supported by December sales’ record-high value of AED 821 944 ($225 190) and a 2% increase compared to December 2023.

The December sale was supported by Dubai Duty Free with a 25% offer for its 41st anniversary on the 20th of December. Just one such promotional event the authority was able to sell worth AED59.993 million ($16.436 million) within a single 24-hour period.

For the entire year 2024, the turnover figures of Dubai Duty Free are subject to more than 20 million, 735 thousand; or 56 thousand, 649 transactions per day; while the actual sales reached 55 million, 137 thousand units of merchandise. Almost 13.7 million clients visited the stores in the Arrivals and the Departure halls indicating that more people continue to use the facilities.

Sales categories comprised fragrances by contributing AED 1.50 billion ($ 411 million), mainly comprising of perfumes, which is 19% of total sales with 9.79% increase in 2023. Liquor, cigarettes and tobacco in the third position, gold and electronics followed as the most requested for categories of products. The role of electronic sales was also noted; it took AED197 million ($54 million) and made 2.5% of the total revenue.

Departures segment sales were AED7.121 billion ($1.951 billion) and constituted 90% of the overall sales and Arrivals segment, with AED537 million ($147 million) in sales. The operation has also seen its diverse workforce increase to 6,030 people from 54 different countries, and although the senior management team has increased by eight new key positions; seven of them are Emirati Nationals.

In the upcoming years, Dubai Duty Free aims to finish arrivals shops fit out by first quarter 2025 and start major terminal refurbishment in concourse B and concourse A in next two years. These improvements will entail new and improved luxury brands, improvements to Perfumes and Cosmetics all of which will be fitted with perfect shopping experience in mind for travelers visiting Dubai.

 

 

Victoria Dickinson

Victoria Dickinson is a seasoned journalist at Dubai.News, specializing in real estate and business news. With over a decade of experience in the industry, Victoria has a keen eye for market trends and an in-depth understanding of the economic factors influencing the real estate sector. Based in Dubai, she provides insightful analysis and comprehensive coverage of the region's dynamic property market, from luxury developments to emerging business hubs. Victoria's background in economics and finance, coupled with her passion for storytelling, allows her to deliver news that is both informative and engaging. Her articles not only inform but also help readers make well-informed decisions in the competitive real estate landscape. Outside of her professional work, Victoria enjoys exploring Dubai’s diverse neighborhoods and attending industry events to stay ahead of the latest developments.

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