Duty Free Philippines Corporation (DFPC) has increased its year-on-year consolidated sales by 4 percent to US$226 million in 2019 from US$217 million in 2018, thanks to Philippines’ hosting of the Southeast Asian Games, among others.
DFPC Chief Operating Officer Vicente Pelagio Angala said the Philippines’ hosting of the Southeast Asian Games and the opening of Duty Free Luxe have significant contributed to the company’s higher sales.
He also noted that the growing number of tourists visiting the newly-rehabilitated Boracay Island via Kalibo Airport has been beneficial to DFPC sales.
Filipino tourists, balikbayans or visiting Filipinos who live overseas, and overseas Filipino workers (OFWs) remained the top source market with a share of 85 percent, according to the company.
Confectionery is still the major growth driver, with 31 percent share of the total sales, followed by liquor (21 percent), fragrance and cosmetics (18 percent), and fashion merchandise (10 percent).