Tourism recovery vital for Asia Pacific’s economy

The Asia Pacific was the fastest-growing region for travel and tourism in 2019, up 5.5 per cent on the previous year, according to the World Travel & Tourism Council’s (WTTC) annual Economic Impact Report.

The tourism sector generated approximately US$3 trillion ($4.6 trillion) towards the region’s GDP during the 12-month period, with international visitor spend across APAC totalling US$548 billion ($853 billion), representing 6.6 per cent of the region’s total exports.

The sector was also a job creation powerhouse over the last five years, with the APAC region creating more than 21 million new travel and tourism roles, equating to 56 per cent of all new jobs globally.

“Our report underscores how vital travel and tourism will be in powering the recovery of the region’s economy, generating new jobs and driving visitors back to Asia-Pacific; having a positive economic domino effect on suppliers large and small throughout the industry,” said Gloria Guevara, chief executive and president of the WTTC.

“Until then, it is crucial that all governments throughout the region help to protect travel and tourism as the backbone of the regional and global economy, which is currently in a fight for survival.

“Our research shows that up to 75 million jobs globally are at immediate risk, with more than 48 million at risk across the Asia Pacific region alone, highlighting how critically the sector requires support.”