SANYA, August 26. /TASS/. The development of a chain of duty free shops on Hainan, as well as the provision of favorable conditions for customers, are helping to increase the number of tourists in the region, according to en.people.cn.
According to the newspaper, from early July to mid-August 2020, the tourist flow on the island increased by 24.1% compared to the same period last year, while 80% of visitors expressed a desire and willingness to visit local duty free shops. Along with the improvement of the epidemiological situation and the removal of travel restrictions, the increase in the number of tourists is explained by an increase in the quota for one person for purchases in duty free shops.
"Since the beginning of July, I have observed the results of adjusting the duty free policy on Hainan," the newspaper quotes a tourist Huang Xingyun. As the woung woman said, she always wanted to visit the island, and not only for a beach holiday, but also for duty free shopping. "Since the increase in the quota, many friends, like me, have finally made the decision to fly to Hainan," she noted.
As the head of the School of Finance and Fiscal Policy of the Beijing National Institute of Accounting Li Xuhong pointed out, since 2011, when the pilot program for the development of a chain of duty free shops on Hainan was launched, the island's duty free policy has been repeatedly adjusted, the authorities increased quotas for shopping in stores, expanded assortment of products. "The opening of duty free shops reduces consumer costs, which means it increases the attractiveness of the region for tourists," he went on to say. "Further development of duty free policy in the province will not only boost consumption, but will also have a good impact on the tourism industry, civil aviation, will improve the international competitiveness of Hainan in providing world-class services," he concluded.
Since July, Hainan's quota for one person for purchases in duty free shops has been increased from 30,000 to 100,000 yuan (from $ 4,200 to $ 14,200), and the list of duty free goods has been expanded from 38 to 45 items.
Four duty free shops are currently open on Hainan: two of them are located in the provincial capital, Haikou, the rest — in Sanya and the coastal town of Boao. According to the latest data, their sales in May amounted to more than 1.9 billion yuan (about $ 279 million), which is by 141% more compared to the same period last year.
Over the recent years, Hainan's duty free zones have shown solid revenue growth. Thus, in 2018, sales in duty free shops on Hainan reached 10.1 billion yuan (about $ 1.47 billion), which is about 26% of the corresponding national figure. Last year, sales grew by more than 34%, to 13.61 billion yuan ($ 1.97 billion).