(Note: This episode originally ran in 2018.)
Is it really cheaper to shop at an airport Duty Free store? And why are there so many of them alike?
In the 1940s, if you were flying from New York City to London or Paris you would find yourself making a pit stop for fuel on the western coast of Ireland. The Shannon airport at the time wasn’t much to look at, but the passengers arriving there were movie stars and celebrities, basically the super rich. And the people of Shannon realized pretty quickly that they needed to upgrade the local amenities for their wealthy clientele. They hired a man named Brendan O’Regan to make it happen.
Being the quick-thinking entrepreneur that he was, O’Regan convinced the Irish government to create a tax loophole. And thus, duty free stores were born. Today on the show, we follow the surprising origin of duty free, and try to answer the question: Are they really saving you any money?
Today’s show was hosted by Robert Smith and Karen Duffin. It was originally produced by Sally Helm and Megan Tan, and edited by Bryant Urtstadt. Alex Goldmark is Planet Money’s executive producer.
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Music: Universal Music Production” – “Chu Chu” and “Lady Surfing.”
