CHINA. At The Trinity Forum in Hong Kong in October, The Moodie Davitt Report Founder & Chairman Martin Moodie spoke to Hainan Hinews about the role of the event and why hosting it in China was so important.
Speaking to Hainan Hinews Head of the Duty Free TV Channel Lu Tianqin, Moodie also outlined his confidence in the island province’s future.
An edited version of the interview follows. Click on the video links above to watch the full discussion in English and Chinese.
Asked why he had brought The Trinity Forum to Hong Kong and China, Moodie replied, “Well the answer to that is quite simple. In terms of the travel retail industry, China is absolutely integral to its fortunes, whether it be travel retail in China or the Chinese traveller abroad. Both sectors are fundamentally important as being the engine room of the international travel retail industry right through the 21st century and we see that continuing long into the future.”
Commenting on The Moodie Davitt Report’s decision to open a representative office in Haikou earlier this year and whether The Trinity Forum might one day come to Hainan, Moodie said, “We are very committed to Hainan, you’re right. We opened a representative office in Haikou and we’re very proud of that.
“We’re the only international media company in our sector that has done that and we’re going to be building that operation into the future. Can we build on that further by having such an event in the future? I seriously think we can, and I think we probably will.
“You see, Hainan is such an important element now of the global travel retail industry, especially over the last few years. When much of the world was troubled by the global crisis, Hainan really flourished, and building on that we see a golden future for Hainan and we want to be part of it.”
Ms Lu then asked Moodie about the future of Hainan’s travel retail market post-2025 when the entire island will become tax free. “That’s the question I’m probably asked the most and ask the most,” he replied.
“It’s a very important question… we think the duty free industry – the traditional duty free sector – will remain very important for a number of reasons. One, the shops are world class. Look at what CDFG has recently done in Haikou with its magnificent new shopping complex there; and Block C opening in coming weeks in Sanya. And the other retailers are also doing great and professional work.
“So that infrastructure has already been built and it will continue to serve travelling consumers from the Mainland and elsewhere with world-class brands, plus more and more local brands in beautiful environments. So that’s not going to go away because of 2025 but it will be complemented by a wider duty paid retail offer. I think the two sit side by side very well. I predict a very strong future for Hainan’s duty free and travel retail sectors.
“Remember, the great majority of Chinese citizens do not have passports, so those people will not be travelling internationally. Why not go to a wonderful destination like Hainan that’s full of man-made attractions and also some of the most wonderful natural attractions you can find anywhere in the world? So I think the future is looking very good for Hainan.” ✈
