Asia Pacific Tourism to Bring US$4.6 Trillion in Revenues by 2010
According to the forecasts of the Pacific Asia Travel Association (PATA) travel and tourism industry is to experience a significant growth in the Asia Pacific region, with revenues up to US$4.6 trillion and about 500 million visitors by the end of 2010. These figures alongside the anticipated growth rate of nearly 8% are given in the PATA Asia Pacific Tourism Forecasts 2008-2010′.
John Koldowski, Director of PATA Strategic Intelligence center states that two-thirds of all tourist visits to Asia Pacific are accounted for by arrivals from within the region. Although Asian markets will experience a slowdown caused by the US credit crunch, their medium-term prospects are very strong and with anticipated growth rates by far outreaching the world average.
According to Mr. Koldowski it is local conflicts causing disturbances on the market that can jeopardize the industry growth.
The PATA forecast highlights 40 destinations that generate almost 98% of international arrivals in the Asia Pacific region, including China, Korea, the US, Fiji, Nepal and other countries.
Previous forecasts by PATA turned out to be highly accurate due to the cutting edge forecasting techniques developed by industry experts. PATA ‘Forecasts’ can be relied upon by anyone interested in the travel industry from professionals to amateur tourists.