Hainan Island’s offshore duty free sales have risen 83 percent to 9.47 billion dollars. The news was reported by Moodie Davitt Report. The revenues were revealed by Hainan Business, which is controlled by the Hainan Provincial Department of Commerce.
The number of shoppers increased 73 percent to 9,676,000 and duty free items purchased increased 71 percent to 53,492,500. Hainan’s five duty free license holders include China Duty Free Group, CNSC, Hainan Tourism Investment Duty Free Co, Hainan Development Holdings, and Shenzhen Duty Free.
One of the reasons Hainan’s duty free sales have increased so much is because Hong Kong currently has strict coronavirus border controls. Hainan is one of the few places Chinese citizens are allowed to travel during the current pandemic. As a result of China’s strict policies, Hong Kong has seen a 97.7 decrease in tourism.
