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Tourism recovery vital for economies of Asia Pacific nations

Tourism recovery vital for economies of Asia Pacific nations
April 16, 2020

The Asia Pacific was the fastest-growing region for tourism in 2019, up 5.5% 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 towards the region’s GDP during the 12-month period, with international visitor spend across APAC totalling US$548 billion, representing 6.6% 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% of all new jobs globally.

With the report indicating the challenges the industry will face in rebuilding when Coronavirus restrictions pass, WTTC Chief executive and President, Gloria Guevara explained “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.

“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.”

Image: Indonesia's Misool eco resort.

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