Duty Free Generates $102.9-M In Sales

The Duty Free Philippines Corporation (DFPC) reported generating USD 102.9 million last year, marking a 53 percent growth from its USD 67.3 million sales in 2022.

Duty Free Philippines plans to expand its product lines, featuring more local products, and will introduce an online shopping platform in February. I Photo: Luxe Duty Free

During a briefing, DFPC Chief Operating Officer Vicente Pelagio Angala expressed the agency's commitment to doubling efforts to sustain this momentum and reach USD 167 million by the end of 2024.

Overseas Filipino workers remained the top customers, contributing 63 percent to total 2023 sales, followed by the Chinese (15 percent), Americans (8 percent), Vietnamese (3 percent), and Malaysians (1 percent).

Duty Free Philippines plans to expand its product lines, featuring more local products, and will introduce an online shopping platform in February. The agency will also join the DOT’s Hop-On Hop-Off (HOHO) itinerary in February.

DFPC has resumed operations in Bacolod, Kalibo, and Iloilo International Airports, with plans for additional stores at Clark Terminal 2.

Angala disclosed that DFPC has started remitting contributions to its mother agency, the Department of Tourism (DOT), as the travel industry recovers, with revenue remittance reaching PHP 40 million from 2023 up to the first month of 2024.

DFPC is the sole operator of the duty-and tax-free merchandising system for international travelers, balikbayans, and OFWs in the country.

WEEKLY FEATURE : Jose Mari Chan And The Christmas Anthem