Asia Pacific tourism revenues set to reach USD4.6 trillion by 2010

The Pacific Asia Travel Association (PATA) is forecasting robust growth for travel and tourism in the Asia Pacific region, with tourism revenues to reach USD4.6 trillion and visitor arrivals to reach close to 500 million by the end of 2010. These figures headline PATA’s newly-published 'Asia Pacific Tourism Forecasts 2008-2010', officially launched in Singapore in partnership with the Singapore Tourism Board.

 

Despite regional stock market volatility and uncertainty over local impacts of a possible US recession, the 'PATA Forecasts' predict robust average annual growth rates of between 7% and 8%. 

PATA Director, Strategic Intelligence Centre, John Koldowski, explains that as much as two-thirds of all international arrivals into Asia Pacific are generated from within the region.  Mr Koldowski notes that localised issues and conflicts, including political and civil disruption in some markets, could pose a greater threat to tourism growth. 

The 40 Asia Pacific destinations covered by the 'Forecasts' account for close to 98% of all international arrivals measured and tracked across the Asia Pacific region in a given year, making them a compelling measure of total activity across the wider Asia Pacific region as defined by PATA. 

Highlights of the 'Forecasts' include:

•    Strong outbound growth in volume from China, Korea, Singapore and the US;
•    Strong outbound growth in percentage terms from Gulf markets (including Bahrain and Oman) and Greater Mekong region markets (including Myanmar, Lao PDR and Vietnam);
•    Fiji and Nepal are showing extremely positive trends after periods of political uncertainty;
•    Asia to dominate growth: by 2010 Asia will receive the same number of international visitors as the whole Asia Pacific region did in 2006.

© Centre for Asia Pacific Aviation. Date posted: 20-Mar-08