1、2024 Hainan Travel Retail WhitepaperResilience and leadership through innovationApril 2024By KPMG China and The Moodie Davitt Report 2024 毕马威企业咨询(中国)有限公司 中国有限责任公司，是与英国私营担保有限公司 毕马威国际有限公司相关联的独立成员所全球性组织中的成员。版权所有，不得转载。在中国印刷。1ForewordThe tourism and retail sectors are thriving in the Hainan Free Trade Po

2、rt,the largest free trade zone in China,and new breakthroughs are being achieved in the effort to develop the island into an international tourism and consumption destination.In 2023,total retail sales in Hainan increased by 10.7%,and local duty-free sales amounted to RMB 43.76 billion,representing

3、an increase of 25.4%.These figures reflect steady momentum in tourism and retail and point to an accelerating recovery of the consumer market.With its integrated,open travel retail market and vibrant travel and shopping offerings,Hainan has become a leader in the development of the consumer industry

4、.In 2023,with government policy support,the Hainan Free Trade Port explored a new development model characterised by experience-based consumption,luxury offerings,duty-free business and high-end retail.Meanwhile,a number of travel retail companies in the area have embarked on digital transformation

5、journeys,and they are in the process of integrating online and offline channels to align with local consumer trends and improve their competitiveness.In this dynamic era,factors such as tax regime innovation,operations management and technological changes will have a significant impact on the upgrad

6、ing and expansion of the local travel retail market.In order to help local travel retail enterprises better understand industry conditions,KPMG China,The Moodie Davitt Report and LOral have jointly launched the 2024 Hainan Travel Retail Whitepaper.The report offers deep analysis of the global travel