Middle-class drives regional tourism
Despite the economic uncertainties in Europe, Asia's travel business leaders revealed that tourism investors are continuing to spend their |budgets on the travel industry to cash in on the economic boom |driven by middle-class tourists |in the Asia-Pacif
This issue was stressed by leading professionals and experts in |the Asia-Pacific region who had gathered at the Tourism Destination Investment Conference Asia, a part of the International Hotel Investment Forum alongside the third TravelRAVE 2012 events. Promoted by Singapore Tourism Board, TravelRAVE began on Monday and concludes today at Marina Bay Sands.
Richard Helfer, chairman of RCH International, told the forum that last year 21 per cent of total global tourism spending came from Asia-Oceania countries. “We expect this to rise to 30 per cent next year,” he said.
In view of this trend, investment in tourism infrastructure across the region would grow with full support from the public sector at different scales nationally, regionally and internationally, from large investment to small boutique hotels, said Helfer.
The new direction of tourism in this region will meet the new customers’ lifestyle and demand.
Helfer called for total environment tourism that focuses on building and developing man-made tourist attractions to create greater opportunities, luring new customers and retaining repeat visitors, on top of historical, natural and cultural tourism.
David Scowsill, president and chief executive officer of World Travel and Tourism Council (WTTC), said that tourism was very important for the economy.
All tourism-related businesses are creating many jobs as well as wealth.
“We expect growth in travel and tourism’s direct contribution to gross domestic product to remain stable at 3 per cent in 2012. We expect the industry to generate directly more than 2 million new jobs, with a 2-per-cent increase in visitor exports and 3.5-per-cent growth in investment over the year worldwide,” Scowsill added.
Additionally, WTTC reported that Thailand would become the fastest-growing country in terms of capital investment during the next decade.
Thailand’s travel and tourism was expected to have attracted capital investment of Bt185.6 billion last year.
This is expected to rise by 13.7 per cent by the end of this year, and rise by 9.7 per cent per annum over the next 10 years to Bt531.6 billion in 2022.
Thailand’s growth rate is higher than China, Singapore, Indonesia and India.
Additionally, travel and tourism’s share of total national investment will rise from 7.4 per cent this year to 10.5 per cent in 2022, according to WTTC.
