2024 will be a decisive year for the travel retail market.

Despite a double-digit decline (-24.4%) compared to the same period in 2022, China continues to hold its position as Italy’s largest supplier.

Before the outbreak of the pandemic, Chinese travelers accounted for 4% of passengers at Dubai International Airport but contributed to 17% of the sales revenue in Dubai Duty Free.

Ten companies from China and six from India are all vertically integrated jewelry retailers, highlighting the significance of China and India as global leaders in gold and jewelry consumption markets.

The average prices in the Chinese market have been the highest among Italy’s major export markets so far.

According to the report, Chinese high-spending consumers exhibit a willingness to spend that is 50% higher than the global average.

Skincare, lipstick, and eye makeup products are the top three products in terms of export volume.