TRAVEL RETAIL IN AFRICA 

The mission is to introduce International Brands of perfumes, cosmetics, fashion, jewelry, watches, accessories, etc., to a wide range of African and International travelers.

 

The African continent has now joined the ranks of the world's most strategic regions for the sale of luxury products and goods.

 

With an increasing number of international tourists flocking to Africa, reaching 67 million arrivals in 2018 and growing by +8.6% since 2019 (higher than Europe), the luxury sector in Africa is thriving, with an annual turnover of €5.9 billion and an average annual growth rate of 10% (according to the Africa Wealth Report).

Sub-Saharan Africa stands as the world's second-fastest-growing economy, evidenced by the fact that 6 out of 10 of the world's fastest-growing countries by GDP were African in 2018, propelling the continent to the rank of the second-largest world economy.

 

*Furthermore, Africa's demographic growth is twice as fast as that of Asia.

 

*With targeted investments totaling €89 billion, China leads as the number one investor on the continent, accelerating industrialization in various territories.

 

*French manufacturing and distribution groups have long been historical actors, providing daily essentials to the population across various sectors such as pharmaceuticals, food, hygiene, clothing, mobility, electronics, and more.

 

*The telecommunications and dropshipping industries are experiencing extraordinary growth.

 

E-commerce platforms now distribute products across vast geographical areas, even in remote regions of the continent.

 

*With an annual growth rate of 5% since the 2000s and a projected growth rate of 3.8% for the coming years (almost triple that of Europe according to the World Economic Forum), the African market continues to expand, driven by favorable demographic factors, the growth of the middle class (expected to reach 224 million consumers by 2040), rising incomes, urbanization, and an increasing presence of millionaires on the continent.

 

*Africa, as an energy-producing continent, is boosting its industries and fueling a growing economy.

 

Numerous partnerships have been established between countries and foreign enterprises and international groups for production management and the implementation of new energies.

 

*With a current population of over 1 billion individuals, projected to reach 2 billion by 2035 (2.4 billion by 2050 according to the UN projection), with 50% aged between 18 and 25 and 50% residing in urban areas, the demand for equipment and consumer goods in all segments is significantly increasing. Despite 80% of luxury product purchases by the African population being made outside the continent (private travel, business trips = Duty-Free purchases), 18 of the largest cities on the continent will have a purchasing power of €1.3 trillion by 2030.

 

In conclusion, all these characteristics make Africa an attractive destination, representing a lucrative opportunity for luxury houses already positioned in high-potential territories.