Asia Pacific Sees A Boost In Travel Despite Economy
Although the Asia Pacific (APAC) region has had a difficult year, the travel industry is doing well, according to research released today by Phocuswright.
A growing middle class continues to spend more on travel, and increases in travel supply are bolstering the market.
The APAC market rose 4% in 2014, to $340.4 billion – 30% of the global travel market.
India will be APAC’s fastest-growing major travel market between 2013 and 2017, achieving a growth rate of 11%, in line with China. This is due to loosening of travel restrictions, investment in infrastructure, and a continuously expanding middle class.
China will be the first travel market to have the majority of its online bookings through mobile; by 2016, 53% of online travel will come through mobile devices.
–Anna Gleksman
Pic:Asian Pacific American Heritage Program
