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To view a copy of this license, visit About this article Cite this article Murray, J.M., Snchez-Franco, S.C., Sarmiento, O.L
From a product perspective, the King Size format continues to command the largest share, while the Super Slim segment is registering the fastest growth rate, particularly among female travelers in Asian markets
The post-COVID recovery in Chinese outbound tourism, which saw approximately 87 million outbound trips from China in 2024 and is expected to reach 120 million by 2026, has been particularly impactful, as Chinese travelers are among the highest per-capita duty free tobacco spenders globally
However, the state also reduced several excise taxes, which will decrease revenue by about $10.2 million over that same period
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