VN ranks second in regional tourism boom

VN ranks second in regional tourism boom

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According to a report on the “Future of Outbound Travel in Asia Pacific 2016 to 2021,” MasterCard projected that around 7.5 million Vietnamese people would travel abroad by 2021 in comparison with 4.8 million in 2016.

The number of outward travel from Asia Pacific emerging markets including China, India, Malaysia, Thailand, Indonesia, the Philippines, Viet Nam, Bangladesh, Myanmar, and Sri Lanka was 1.5 times higher than developed countries. The figure was projected to increase two folds within the next five years.

Myanmar is expected to take the top position with a 10.6% growth per year over the next five years. The rate is 8.6% for Indonesia, 8.5% for China and 8.2 for India.

Meanwhile, growth will be 6.1% for Sri Lanka, 4.8% for Thailand, 4.4% for the Philippines and 3.8% for Korea. Australia, Singapore and Malaysia are expected to each have 3.5% growth.

Mr. Eric Schneider, senior vice president for Asia Pacific at Mastercard Advisors, said: “The burgeoning middle class is driving the growth of outbound travel in Asia Pacific, along with other trends such as the emergence of the Asian millennial traveler and on the other end of the spectrum the senior traveler, as well as new technology and infrastructure developments.

Asia Pacific travelers will continue to fuel global tourism growth in years to come, providing vast opportunities for businesses to benefit through the development of products and solutions that seek to improve their overall travel experiences.”

According to the study, outbound travel is forecast to grow faster than real GDP. Outbound travel growth tends to be higher than real GDP growth for emerging markets compared to developed markets (except for Japan) where outbound travel growth is much closer to their forecast real GDP growth./.

By Kim Anh

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