News
Asia-Pacific tourism 'worth $4.6tn by 2010'
19 March 2008
Tourism in the Asia-Pacific region is set to grow to the point that the industry will generate revenues of $4.6tn (£2.31tn) by 2010, according to a new report.
Research by the Pacific Asia Travel Association (Pata) forecasts that visitor arrivals will reach close to 500m before the end of 2010.
The group's report, which was launched in partnership with the Singapore Tourism Board, said that such substantial figures were attainable despite volatility in world financial markets and the possible impacts of a recession in the US.
John Koldowski, director of the Pata strategic intelligence centre, said that the Asia-Pacific tourism industry is to some degree self-contained as up to two-thirds of visitors come from within the region.
'Due to the global nature of business, Asian markets will inevitably be impacted by a slowdown in the US economy triggered by the credit crunch,' he added.
'However, the medium-term outlook for most Asian economies is very strong with growth rates well above world averages.'
Highlights of the Pata forecasts included strong growth in outbound tourism from China, Korea, Singapore and the US, as well as positive trends for Fiji and Nepal following periods of political instability.
Click here to plan and book flights, hotels, city breaks, rental cars and holidays with Opodo.
Research by the Pacific Asia Travel Association (Pata) forecasts that visitor arrivals will reach close to 500m before the end of 2010.
The group's report, which was launched in partnership with the Singapore Tourism Board, said that such substantial figures were attainable despite volatility in world financial markets and the possible impacts of a recession in the US.
John Koldowski, director of the Pata strategic intelligence centre, said that the Asia-Pacific tourism industry is to some degree self-contained as up to two-thirds of visitors come from within the region.
'Due to the global nature of business, Asian markets will inevitably be impacted by a slowdown in the US economy triggered by the credit crunch,' he added.
'However, the medium-term outlook for most Asian economies is very strong with growth rates well above world averages.'
Highlights of the Pata forecasts included strong growth in outbound tourism from China, Korea, Singapore and the US, as well as positive trends for Fiji and Nepal following periods of political instability.
Click here to plan and book flights, hotels, city breaks, rental cars and holidays with Opodo.
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