Date: 18 October 2012
Asia Pacific travel
continues to boom.
Asia Pacific is set
to continue to lead as the world's fastest-growing travel region next year,
reaching USD357 billion, a 64% increase over 2009, according to a study
released at ITB Asia by industry research authority, PhoCusWright.
According to the
PhoCusWright-ITB Asia study, Asia Pacific's travel market will maintain high
single-digit growth at 9% and 8% in 2012 and 2013 respectively with offline
distribution still accounting for a majority of regional travel sales.
"Wholesalers and
traditional travel retailers continue to serve a large segment of leisure
travel demand as travellers in many markets prefer buying tour packages and
completing transactions offline, especially for more complex international
travel," said Chetan Kapoor, research analyst, Asia Pacific, PhoCusWright.
"But travellers
are steadily shifting to the Internet in search of price transparency, variety,
information and convenience, and demand for independent travel is also on the
rise," said Kapoor.
The study also
reveals that China's slowing but growing economy, surging consumer travel
demand and double digit gains across all travel segments will push the country
ahead of Japan to make it the region's largest travel market by 2013.
China's travel gross bookings are expected to nearly double
in the next few years, from USD54.8 billion in 2009 to USD105.5 billion in
2013.
ITB Asia 2012, being held in Singapore this week has 865
exhibiting companies from 72 countries, which is a 15% increase from 2011.
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