Total sales of Hainan duty-free shops hit RMB4.2 billion by end of Feb
Recently, the governor of Hainan province Jiang Dingzhi reported that since the implementation of the Hainan duty free policy, total sales revenue at Hainan Duty Free shops has hit RMB4.2 billion while average daily sales have reached 6.2 million yuan and per capita consumption was 2,300yuan by the end of February.
In order to boost local tourism, Hainan implemented a duty-free policy that grants visitors tax rebates with a purchase limit of 5,000 yuan on May 1st, 2011.
On November 1st 2012, a new duty-free policy with a purchase limit of 8,000 yuan officially took effect, and more kinds of products, such as beauty products & healthcare equipment, Kitchenware & Tableware and toys were included amongst tax-rebate eligible items.
Moreover, the updated scheme has also lowered the age threshold for duty-free purchasing from 18 years old to 16 years old.
Mr. Jiang also said that the number of tourists visiting Hainan Island has been growing at around 11% every year, and Hainan is expected to receive 47 million tourists in 2015, and just 20% of them visiting the area’s Duty Free Shops would mean over 10 million visitors.
Hainan has opened one duty-free store in Sanya and one at the Meilan Airport of Haikou. Just one of them, the Sanya Duty Free Shop, has a business area of 8,000 square meters, and receives over 10,000 visitors a day on average. The average daily number of visitors to the shop exceeded 30,000 during the spring festival holiday.