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- Published: February 26, 2020 11:45
New Delhi: The duty-free revenue per passenger for Indira Gandhi International Airport is highest in India at 10 to 11 dollars per passenger.
According to a report by Knight Frank India, retailers do two times the business compared to some of the most successful city malls.
The share non-aeronautical revenue of the joint venture airport in New Delhi is at 70 per cent, well above the global average of 40 per cent. From this 70 per cent, 34 per cent comes from retail, food and beverage, and duty free components.
The upcoming Jewar International Airport spread over 3,000 hectares in Uttar Pradesh will add significant value and volume to Delhi’s transit retail market, said the report titled ‘Catch Them Moving.’
“Infrastructural development has always kept Delhi at the forefront of accounting higher retail revenue than other cities in the country,” said Gulam Zia, Executive Director for valuation, advisory retail and hospitality at Knight Frank India.
“Once Noida airport gets operational, it will make National Capital Region the biggest transit retail opportunity sized market in India,” he added.
“The changing face of Indian urbanscape and the push to infrastructure is opening new opportunities and bringing a paradigm shift in how transit retail is perceived in India,” said Zia.
The national capital is also the only Indian city to feature in world’s top 10 business metro rails. Compared to London and Hong Kong, Delhi Metro has the lowest percentage share of non-fare box revenue at 12 per cent.
There is a large scope for increasing its contribution to total revenues. Delhi Metro Rail Corporation (DMRC) has been trying to grow retail and other related businesses to stabilise earnings and its non-fare box revenue target is at 30 per cent of its total earnings, said the report. (ANI)