The Executive Summary report for PATA’s highly anticipated Asia Pacific Visitor Forecasts 2019-2023 has just been released to the PATA Store.
This 146-page report highlights the momentous growth of tourism in Asia Pacific, which will reach US$1.1 billion total revenue and close to 900 million international visitor arrivals (IVAs) in 2023. There are 40 destinations within Asia Pacific collectively that are predicted to show an average growth rate of 5.5 percent each year between 2018 and 2023.
Annual foreign visitor arrivals in other destination regions are expected to grow in this same period, including:
- Asia: 6.2%
- Pacific: 4.4%
- Americas: 3.1%
As a result of the strong average annual growth rate, Asia’s current share of foreign arrivals of almost 74 percent in 2018 is forecast to increase to over 76 percent by the end of 2023. Although total number of foreign arrivals to other destination regions will also increase, their shares of foreign arrivals will decrease within this period:
- The Americas region will decrease from 22.4% to <20%
- The Pacific region will decrease from 4% to 3.8%
Asia will also be the strongest generator of foreign arrivals into Asia Pacific over the forecast period. Its relative share of arrivals will increase from 63.9 percent to over 66 percent between 2018 and 2023.
Intra-regional travel flows will remain important for the Americas and Asia: more than 75 percent of the Americas will see foreign arrivals originating from the same region in 2023, just as in 2018. Similarly, intra-regional travel flows in Asia will remain steady: it will increase from just below 94 percent in 2018 to just above 94 percent in 2023.
This differs from the Pacific destination, as over 50 percent of its 2018 inbound IVAs originated from Asia and will increase to around 57 percent by 2023. However, intra-regional flows within the Pacific region will remain significant at over 30 percent in 2023.
PATA’s Asia Pacific Visitor Forecast provides a reliable forecasting system that predicts arrivals, visitor receipts, and departures across the Asia Pacific region to help destinations effectively develop strategies to maintain a competitive edge.
Driven by the Hong Kong Polytechnic University’s Tourism Forecasting Unit’s proprietary travel forecasting model, this annual forecast allows tourism industry stakeholders to review the industry’s performance and consider the prospects for the coming year and beyond.
This report is available for order now at the PATA Store. View details >>
Stay tuned for the Full Report that is due for release in early March!