Global spending in airports reached $38bn (£29.8bn) in 2016 and is set to grow by 29% to $49bn (£38.4bn) by 2021, according to GlobalData.
Maureen Hinton, group research director at GlobalData Retail, said: “Apart from the growing number of air travellers, increased security over recent years delivers a constantly changing captive audience for airside retailers, which claim 83% of all spending in airports.
“This audience has time to kill and is in the mood to spend, especially when on holiday.”
Asia Pacific airports generated the most spending in 2016, taking $14.8bn (£11.6bn). Sales were boosted by Chinese travellers buying luxury duty-free goods.
Europe ranks second on spending, hitting $10.7bn (£8.4bn) in 2016.
One benefit of the UK’s decision to leave the EU was the subsequent increase in tourists attracted to the country by the low value of the pound.
Hinton added: “Airports appreciate the extra revenue and are willing to invest in creating a more inviting space for travellers.
“For example, in Singapore’s Changi airport you can catch a movie, browse new art, play games, pamper yourself in a spa and entertain your kids – the airport equivalent of a modern shopping centre.”
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