Asia Pacific travel continues to boom
Asia Pacific is set to continue to lead as the world’s fastest-growing travel region next year, reaching USD357 billion, a 64% increase over 2009, according to a study released at ITB Asia by industry research authority, PhoCusWright.
According to the PhoCusWright-ITB Asia study, Asia Pacific’s
travel market will maintain high single-digit growth at 9% and 8% in 2012 and 2013 respectively with offline distribution still accounting for a majority of regional travel sales.
"Wholesalers and traditional travel retailers continue to serve a large segment of leisure travel demand as travellers in many markets prefer buying tour packages and completing transactions offline, especially for more complex international travel," said Chetan Kapoor, research analyst, Asia Pacific, PhoCusWright.
"But travellers are steadily shifting to the Internet in search of price transparency, variety, information and convenience, and demand for independent travel is also on the rise," said Kapoor.
The study also reveals that China’s slowing but growing economy, surging consumer travel demand and double digit gains across all travel segments will push the country ahead of Japan to make it the region’s largest travel market by 2013.
China’s travel gross bookings are expected to nearly double in the next few years, from USD54.8 billion in 2009 to USD105.5 billion in 2013.
ITB Asia 2012being held in Singapore this week has 865 exhibiting companies from 72 countries, which is a 15% increase from 2011.
Ian Jarrett
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