Asia Pacific Now Largest Regional Travel Market

Asia Pacific’s travel market has surpassed Europe to become the world’s largest regional travel market in 2012 with $326 billion in travel bookings, according to industry analyst PhoCusWright. Despite economic uncertainty in some of the region’s markets, the company projects 8% growth for the total Asia Pacific market through 2015. The report also found that China has overtaken Japan as the largest travel market within the region. China will account for nearly a third of the regional travel market by 2015, the report said.