Asia's travel industry is showing positive signs of recovery,
according to a new report from the World Travel & Tourism Council
(WTTC) and Oxford Economics.
The study analysed the travel sector's contribution to GDP,
employment, and traveller spend in 82 cities from around the world, with
five Asian cities appearing in the top 25 for the greatest impact on
their local economies. Bangkok, Beijing, Seoul, Singapore and Tokyo were
the highest-performing Asian cities in 2022.
Despite continued border closures and travel restrictions, the report
shows that these major powerhouses are slowly recovering their direct
contribution to GDP, although international visitor spending is still
somewhat different. Still, all the cities are beginning to show signs of
economic recovery, thanks to the return of overseas travellers spending
on local tourism activities.
While most cities are seeing sector job levels increasing again,
Tokyo's sector job market is recovering at a slower rate than the
others. In 2019, the tourism sector contributed US$106.9 billion to the
capitals of these five countries combined, but the pandemic has had a
long-lasting and damaging effect on the region, with only Beijing
recovering close to 2019 levels.
WTTC president & CEO Julia Simpson emphasised the importance of
recognising the significance of travel and tourism for the local and
national economies, jobs, and businesses, stating that Beijing is
expected to become the world's largest city for the travel and tourism
economy within the next decade.