Rosy Forecast for Travel Industry in Asia-Pacific
Huang Lijie - Straits Times Indonesia | October 20, 2011
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Singapore. The travel industry in the Asia-Pacific is expected to stay buoyant even as economic uncertainty and natural disasters may dampen the outlook for global tourism.
Tourism analysts and experts shared this view during a press conference yesterday at the opening of a three-day trade show, ITB Asia, at Suntec Singapore International Convention and Exhibition Centre.
The rosy forecast for Asia is underscored by robust growth in emerging economies such as China and India as well as strong demand for domestic travel in these countries.
Clement Wong, director of research for travel industry research company PhoCusWright, said its data showed that the Asia-Pacific is poised for further growth after overtaking the United States and coming in behind Europe last year as the world's second-largest travel market.
He said the region will be resilient to ripples from economic uncertainty in the West because strong demand for domestic and regional travel in the Asia-Pacific has reduced reliance on Western travelers.
He added that more low-cost carriers operating in the region would also boost the size of the market.
He expects the region's travel market to increase by 6 per cent next year, ahead of Europe's estimated 4.8 per cent.
Recovery of tourism in Japan, following the March 11 earthquake and nuclear disaster, is also expected to boost tourism in the region.
From a year-on-year decline of about 73 per cent in tourist arrivals in March, the drop has eased to 32 per cent in August.
The Japan Tourism Agency is considering a program to offer 10,000 foreigners free flights to visit the country next year. It hopes that positive reports about their experiences will ease travellers' worries about vacationing in the country.
The region is also expected to fare well in the long term.
Taleb Rifai, secretary-general of the World Tourism Organisation, said data from its forecast report of global tourism in 2030 puts inbound and outbound travel for the region at double the rate of growth of a mature market such as Europe.
ITB Asia is a partner event of TravelRave, a week-long event organized by the Singapore Tourism Board for industry players to network and share insights.
Trade and Industry Minister Lim Hng Kiang was the guest of honor at the opening of ITB yesterday.
Reprinted courtesy of Straits Times Indonesia. To subscribe to Straits Times Indonesia and/or the Jakarta Globe call 021 2553 5055.
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