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INSIDER

scenarios and the government looks to about better sales but most admit sales are The current exchange rate of 4.8 BRL to
stabilize the economy before the first round down by 50% compared to 2019/2020. the dollar has led to a temporary boom
of voting. Candidates have not yet been Currency stability could lead to stronger in sales and retailers are wishing that it
officially announced but former President sales growth in the second half of the year. continues over the next few months.
Lula is almost certain to run. Will it be
a head-to-head in the run off against the
incumbent Bolsonaro?
There was muted economic growth in
Q4 of 2021 and mixed news in 2022 so far.
Inflation is expected to fall from 10% to
below 8% later in the year as interest rate
increases cool the economy. GDP growth
is forecast at between 0.5% and 0.8% for
this year with domestic demand subdued
as a result of interest rate increases and a
fall in consumer confidence. Nevertheless,
pre-election economic maneuvers from the
government to boost consumer spending
cannot be ruled out. And uncertainty about Bogota’s El Dorado Airport, the principal international gateway to Colombia, recorded 11.46 million
the future development of the pandemic passengers last year (2.77 million international and 8.71 million domestic). According to the airport
within Brazil is likely to be a factor for manager OPAIN, these figures are significantly ahead of the 5.51 million recorded in 2020 (1.58m
some time. international and 3.92m domestic). No official figures have been published for the first part of 2022
International travel in Brazil is still but local analysts say that after a very strong December, the airport could reach around 75% of the
below expected levels and even domestic pre pandemic figures of 2019 - 17.53 million (5.62m international and 11.91m domestic.) Clearly
flying has not yet fully recovered. Border good news for Dufry /3Sixty, Attenza and DFA who all operate stores at this important Latin American
retailers in Paraguay and Uruguay talk hub. JG

Atelier du Parfum Elena Villarreal
Diciembre 2021 - enero 2022 Founder of Ultrafemme.

46 YEARS CELEBRATING THE ART OF PERFUME CRAFTING

New airport terminal opens in Chilean capital

The new International Terminal at traffic to recover to around 60-70% of pre the incumbent operator at Santiago since ART IN PERFUMERY
Santiago de Chile’s Arturo Merino Benitez pandemic levels in the second half of this the late nineties. The current concession
Airport was officially opened at the end year. contract lapsed during the pandemic and At Ultrafemme, the art of perfumary is part of We thank all our prestigious partners, specially
of February by Chile’s outgoing president At the beginning of March, with the was extended to the end of this year. A our essence, our roots, and above all our history. to the artisanal luxury houses who collaborated
Sebastian Pinera, in one of the final acts of inauguration of international flights in new tender is expected to be called by the We celebrated our 45th year anniversary in a
his presidential tenure. the new terminal, the Nuevo Pudahuel Chilean aviation authorities over the next with us to create this holistic customer journey
US$990 million was invested in consortium (Groupe ADP - 45%, Vinci few months. very special way, creating and offering a for the first time in Mexico.
the new 248,400 sqm terminal, which Airports - 40% y Astaldi Concessioni - Until the Chilean Civil Aviation wholesome sensory experience.
increases the capacity of the airport from 15%), opened the new retail and F&B Authorities publish the details of the tender,
just under 15 million passengers to 38 offer at the airport. Lagardère with Chilean it is not known who will be bidding on the
million. Chile adopted a very strict anti- partner Global Group Corporation opened contract. We assume that Dufry will want
COVID stance at the beginning of the five new restaurants and bars, Britt / to retain the concession, which is one of
pandemic and international traffic only Morpho Travel Retail opened gift stores the most important duty free concessions
reached 2.09 million passengers in 2021. and Swiss owned Dufry opened several in Latin America; we could also see
This is significantly below the 11.1 million duty free stores in the new terminal. Lagardère bid on the concession after their
recorded in 2019, the last full year before Dufry, along with its predecessors win in Lima last year.
the pandemic hit. Airport officials expect World Duty Free and Aldeasa, has been JG

Summit of the Americas April 2022 34