Asia Pacific Arrivals Continue To Drive Tourism Growth
Year-end statistics by Collier International indicate that the world travel industry will close out 2018 with more arrivals than the prior year.
Tourism arrivals to the Asia Pacific region are expected to have grown by 6% year-on-year in 2018, thanks in part to the wanderlust of a growing population of consumers from China, as well as a bounce-back in corporate demand. This continues a steady period of growth that started in 2010, as the middle-income population continues to soar across the Asia Pacific region.
The arrivals momentum is expected to spill over into 2019, rising at a pace of about 4.5%, with regional tourism arrivals reaching record levels, says Colliers. Growth continues to be mainly sourced from China and India, with the demand in India being driven by the expansion of its gross domestic product per capita.
Another indicator is revenue per available room (RevPAR), and increases of it are closely correlated to the economic performance of the emerging and developing countries in Asia. This highlights the importance of intra-regional and domestic tourism to destinations.
RevPAR (in US dollar terms) across Asia Pacific improved by 5.7% year to date August 2018, with China, Indonesia, Thailand and Vietnam being the main drivers. Myanmar and Taiwan were the worst performing markets.
Pictured, scenic Ha Long Bay in Vietnam is one of the attractions that continues to drive more tourism arrivals to the Asia Pacific region.
