Retail licences and advertising now represent the single largest income source for Hong Kong International Airport (HKIA), as it celebrates its 20th anniversary.

Business information site The Moodie Davitt Report shows that despite capacity constraints, the airport managed to generate an extra 1.4 per cent in revenue from retail licences and advertising in the last financial year to reach HK$7.909 billion (US$1.020 billion), a function of passenger growth of 4.5 per cent to 73.6 million people.

A number of major new concessionaires set up at HKIA last year and the airport is now putting out an invitation to tender for the establishment of a Chinese gold shop in Terminal 1, which is currently being expanded to increase capacity before the completion of HKIA’s three-runway system.

HKIA launched an online shopping platform last year for passengers to order items online and pick them up at the terminal. It also offers a home-delivery service to 15 markets worldwide.

The 20th anniversary event was marked by a gala cocktail reception attended by around 1000 guests and an exhibition that showcased the airport’s accomplishments in the two decades since its 1998 relocation from Kowloon. Travellers passing through the terminal were given cupcakes to mark the milestone.

HKIA has established itself as a leading international aviation hub, connecting with more than 220 destinations globally. It is the world’s third-busiest airport in terms of international passengers and cargo throughput.