The Arabian Business Achievement Awards 2024 took on an extra layer of significance as Colm McLoughlin, the Executive Vice Chairman and CEO of Dubai Duty Free, was honoured with the prestigious Lifetime Achievement Award.
The ceremony, often referred to as the ‘industry Oscars,’ witnessed the gathering of visionaries, dignitaries, and industry leaders at the opulent Atlantis The Royal in Dubai.
In a celebration of excellence over the past 12 months, Colm McLoughlin’s name shone brightly as a beacon of achievement.
The Lifetime Achievement Award bestowed upon him is a testament to his pivotal role in shaping Dubai Duty Free and the duty-free industry in the region.
McLoughlin’s journey began as a member of the consultancy team from Aer Rianta and the Irish Airport Authority in 1983 when the Dubai Government contracted them to launch the new duty-free operation.
Over the years, he ascended from the General Manager role to the Executive Vice Chairman and CEO of Dubai Duty Free. Under his leadership, the business experienced unprecedented growth, soaring from US$20 million in 1984 to an impressive US$2.16 billion in 2023.
Dubai Duty Free, under Colm’s astute direction, has set the benchmark for the duty-free industry in the region.
The accolades received by the organisation, including the Frontier Award for Airport Retailer of the Year, reflect its standing as an industry leader.
McLoughlin himself has been recognized with numerous awards, including the Irish Presidential Distinguished Service Award and the CEO Middle East Awards.
A keen philanthropist, McLoughlin established the Dubai Duty Free Foundation in 2004. His support has reached 45 local and 56 overseas charities, demonstrating a commitment to making a positive impact on a global scale.
“We look forward to the next 40 years,” McLoughlin added.
The ceremony at Atlantis The Royal not only recognised excellence but also celebrated a visionary whose contributions have left an indelible mark on the business landscape in the Middle East.
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