Travel

• [New] The Indonesian travel and tourism industry is forecast to have a value of USD $88.5 billion in 2022, a substantial increase of about 38.3 percent since 2017.
• [New] With the opening of Hotel Okura Manila in the second half of this year, total room count at the Resorts World Manila complex will be approximately 3,500, supporting the continued growth of the Philippine tourism industry.
• [New] The tourism spending in Qatar is expected to reach QAR 40bn in 2023; and it aims to increase the tourism contribution to GDP to 4% in 2023 from 2.3% in 2016.
• [New] Muscat which is one of the key travel hub in Oman, had hotel supply of 10,924 rooms in 2017, and is expected to rise 12% annually by 2021 to 16,866 rooms 19.
• [New] Qatar is expected to have a hotel supply of 46,000 rooms by 2022.
• [New] India is expected to be the third largest aviation market by 2024, which will make Asia Oceania the largest travel market in the near future.
• [New] The physical activity resulting from the big increase in the number of miles people travel by biking and walking are projected to lower health care costs by $52 million in 2050.
• All real estate categories, including retail, are likely to experience one or more market disruptions that could influence the volume and value of M&A activity.
• The flight routes between ASEAN and China are also an increasing bright spot due to high travel demand spurred: The Southeast Asia-China route is expected to grow at a CAGR of 6.3 percent from between 2016 and 2036, increasing its share of total traffic from 15.0 percent to 16.6 percent.
• Almost 1.8 billion people are forecast to travel within China by 2037, nearly four times the number 20 years earlier.
• The Japanese government is assuming that by 2020, the number of visitors will reach 3 3M, who will increase consumer spending (for reference 20M tourists visited Japan in 2016).
• The lodging industry recovery will begin in 2022 with a 1.3 percent rise in RevPAR, followed by a very strong increase of 3.8 percent in 2023.
• Real GDP growth will be around 2 percent in the Caribbean, as construction, tourism, and the extractive industries such as gold and oil are expected to expand.
• The threat from illegal movement of people to the UK through air-facilitated travel has remained stable over the past year.
• By June 2018, transport costs between Khorgos and Almaty had declined from US$0.26 to US$0.24 per vehicle-kilometer, and travel times had fallen by 40 percent, from five hours to three: The reduced transport costs and travel times are expected to trigger increased trade in the coming years.
• Over the past 10 years, Airbnb has grown into the world's largest online marketplace for lodgings and now qualifies as a disruptive innovation.
• Shifts in global travel and mobility provide luxury retailers with substantial opportunity, with travel and tourism contributing $8.8 trillion to the global economy and supporting 319 million jobs globally.
• The combination of the growing tourism market and government support could open an opportunity for online travel companies to tap into India, a significant market based on its size alone.
• For 2019 as a whole, the U.S. hotel industry is projected to report a 0.1 percent increase in occupancy to 66.2 percent, a 1.9 percent rise in average daily rate to $132.32 and a 2 percent lift in revenue per available room to $87.65.
• By 2028, tourism is expected to indirectly support more than 200 million jobs across the 21 economies of the Pacific Rim.
• The medical devices market is expected to reach US$11 billion by 2022, backed by rising geriatric population, growth in medical tourism and declining cost of medical services.

Last updated: 13 July 2019