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Towards a bright future From Hainan free trade port tourism retail market

The following is the Towards a bright future From Hainan free trade port tourism retail market recommended by And this article belongs to the classification: Travel booking, kpmg , research report.

Since 2011, Hainan’s tourism retail industry has been developing at an amazing speed. By the end of 2020, the output value of tax-free industry in Hainan’s outlying islands is about 5 billion US dollars. Thanks to the new tax-free policy for outlying islands which takes effect on July 1, 2020, the development of this industry has been greatly promoted.

This white paper puts Hainan’s tourism retail industry in the context of a global tax-free industry with an output value of US $86.4 billion (before the epidemic) in 2019. It records the continuous growth of this industry from 2011 to 2020, and points out how Hainan became a “Lighthouse” of tourism retail industry when other markets collapsed last year.

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