Contributing a staggering 814.3 billion U.S. dollars to China’s GDP in 2021, the travel and tourism industry proved to be a vital industry for the East Asian country’s economy. This pivotal industry provided huge GDP contributions to a number of countries across the Asia-Pacific region. The likes of Japan and India both saw impressive figures, while Southeast Asia alone has experienced constant GDP increases from the travel and tourism industry.
Why Asia-Pacific?
The travel and tourism industry has made significant monetary additions to many developing economies throughout the Asia-Pacific region. Southeast Asia stands in the foreground as one of the regions which relies heavily on its tourism success. A success which could be inferred through the rising number of tourist arrivals to the ASEAN states. A likely reason why APAC has become one of the leading regions for tourism, could be related to its competitive prices. Many countries in the Asia-Pacific region are cheaper than the usual Western tourist hotspots, in this way, the region has begun to appeal to an increasing number of international travelers.
Domestic tourism
The Asia-Pacific region has not only attracted international tourists throughout recent years but has also received a great influx of domestic tourists. Growing economies in the region, resulting in an emerging middle class, have made the possibility of increased domestic travel a reality. Intra-regional tourism accounted for approximately half of APAC’s tourism.
Total contribution of travel and tourism to GDP in the Asia-Pacific region in 2021, by country or territory
(in billion U.S. dollars)
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WTTC. (April 13, 2022). Total contribution of travel and tourism to GDP in the Asia-Pacific region in 2021, by country or territory (in billion U.S. dollars) [Graph]. In Statista. Retrieved August 16, 2022, from https://www.statista.com/statistics/313589/travel-and-tourisms-direct-contribution-to-gdp-in-asia-pacific-countries/
WTTC. "Total contribution of travel and tourism to GDP in the Asia-Pacific region in 2021, by country or territory (in billion U.S. dollars)." Chart. April 13, 2022. Statista. Accessed August 16, 2022. https://www.statista.com/statistics/313589/travel-and-tourisms-direct-contribution-to-gdp-in-asia-pacific-countries/
WTTC. (2022). Total contribution of travel and tourism to GDP in the Asia-Pacific region in 2021, by country or territory (in billion U.S. dollars). Statista. Statista Inc.. Accessed: August 16, 2022. https://www.statista.com/statistics/313589/travel-and-tourisms-direct-contribution-to-gdp-in-asia-pacific-countries/
WTTC. "Total Contribution of Travel and Tourism to Gdp in The Asia-pacific Region in 2021, by Country or Territory (in Billion U.S. Dollars)." Statista, Statista Inc., 13 Apr 2022, https://www.statista.com/statistics/313589/travel-and-tourisms-direct-contribution-to-gdp-in-asia-pacific-countries/
WTTC, Total contribution of travel and tourism to GDP in the Asia-Pacific region in 2021, by country or territory (in billion U.S. dollars) Statista, https://www.statista.com/statistics/313589/travel-and-tourisms-direct-contribution-to-gdp-in-asia-pacific-countries/ (last visited August 16, 2022)