4 Asia Pacific markets account for 20pc of global travel spend
Four Asia Pacific markets, mainland China, Korea, Japan and Taiwan, account for nearly 20 percent of global travel expenditure, according to a Mastercard report.
The report titled “Mastercard’s Global Destination Cities Index: Origins” also revealed these countries to be among the top 10 travel origin markets worldwide in terms of the number of travellers.
Business and leisure travellers from the top 10 origin markets comprise nearly half (49.1 percent) of all overnight international visitor arrivals to the 200 destinations and 48.4 percent of their total expenditure.
This demonstrates the potential of the insights to help shape decision-making for governments, merchants and the global travel industry which contributed a record $8.8 trillion and 319 million jobs in 2018, says a press release of the global payments solutions provider.
“Not only has this region’s spend contribution to global travel expenditure nearly doubled in the last decade, but we’ve barely scratched the surface,” said Rupert Naylor, senior vice president of data and services for Asia Pacific at Mastercard.
This is in terms of percentages of the populations that are traveling overseas, he said.
The USA ranked first in the origin market followed by mainland China and Germany.
The Mastercard Global Destination Cities Index (GDCI) ranks 200 cities based on proprietary analysis of publicly reported information from third-party sources
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