“Travel retail” is a term that commonly refers to sales made in travel environments where customers require proof of travel to access the commercial area, but which are subject to taxes and duties.
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Travel retail is a term that commonly refers to sales made in travel requirements.Duty-free and travel retail encompasses the sale of goods to international travelers. Duty-free shops are exempt from paying certain local or national taxes and duties requiring travelers to take their purchases out of the country.
Import, value-added and sales taxes – aka duty – are imposed on imported and exported products. A duty-free shop, therefore, sells things without adding those taxes to the price. You'll find duty-free shops in international airports, cruise ships and areas where tourists congregate.
The truth is, for a lot of products, there isn't always much difference between duty-free and the prices you can get at home — especially if you're prepared to hunt online. The key differentials are tobacco and alcohol, which are both usually taxed heavily and therefore can be bought for a lot less at the airport.
In 1758, Cox & Kings became the first travel agency in modern history. In 1840, the Abreu Agency was established in Porto by Bernardo Abreu, becoming the world's first agency to open its services to the public. A Thomas Cook travel agency in the United Kingdom, which ceased operating in 2019.