Tourism Indochina: Asia to suffer this year as travel demand slumps

(TourismIndochina: Date : 2009-02-27 ): Experts suggest new figures set to be released at the ITB Future Day in March will show a significant drop in the travel demand in Asia for 2009.

The 2009 ITB World Travel Trends Report is still being finalised but the preliminary trends show Asia will suffer a challenging 2009.

The World Tourism Organization (UNWTO) reported that the growth of inbound and outbound international travel in Asia fell from 6% in January-June to 2-3% in the second half when fuel prices soared and the economy cracked.

Rolf Freitag, President of IPK International, suggested that many leading source markets for Asia which experienced declines in outbound travel in 2008 will most likely experience it further in 2009.

However there is a light at the end of the tunnel according to Dr Martin Buck, Director of the Competence Center Travel & Logistics at Messe Berlin.

“It is still possible that Asia could start to recover before the end of 2009”

“Initial findings in the World Travel Trends Report still point to a modest overall growth in outbound travel demand from Asian markets in 2009”

“We expect short-haul travel to gain at the expense of long-haul demand. And if oil prices stay low, there could be another surge in low-cost flights in the region”

Asia will now rely on younger consumers which, according to Dr Yuwa Hedrick-Wong, economic advisor, Asia/Pacific, MasterCard Worldwide, are being much more powerful travellers.

“Young consumers in Asia Pacific now typically see personal travel as a key activity in their lifestyles” said Mr Hedrick Wong.

“Our research on consumer purchasing priorities shows personal travel ranking among the top discretionary spend priorities for consumers in the region”

The finalised ITB World Travel Trends Report 2009 will be released at the ITB Convention on ITB Future Day, Wednesday 11 March 2009.

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