A growing appetite for travelling and more work-life balance especially of the Millennial Generation, is sparking increasing demand for tourism properties.
Text & Photography by Jan Yong
Anyone who thinks President Donald Trump has cast a dark shadow on the economic well-being of Asians probably has to think twice. Despite the uncertainty created by the ‘Trump Effect’, life goes on. That includes buying real estate and going on holidays. Before Trump’s election victory last November, the statistics on travel were pretty overwhelming. There seems to be a surge in travel and leisure since 2015 with numbers doubling in 2016 year-on-year.
Led by the Chinese Mainlanders (no surprise here), worldwide inbound visitors numbers have reached record levels. According to World Travel Monitor®, outbound travel by Asians grew by a dynamic 11% in the first eight months of 2016, led by Chinese Mainlanders with an 18% rise in outbound trips (excluding to Hong Kong and Macao). This is followed by South Koreans who recorded an 11% rise in international travel.
Over 80% of those trips including for all Asians were for holiday purposes; beach and island destinations were particularly popular which saw growth of 20% between January and August 2016, reports World Travel Monitor. Countryside trips were not far behind, chalking up growth of 15%.
The remarkable boom in Asian outbound travel is also confirmed by figures from the World Tourism Organization (UNWTO) which show strong growth for many destinations in Asia Pacific in 2016. The region is leading worldwide inbound growth, with international tourist arrivals (overnight visitors) up 9% through September 2016 from 6% in 2015, according to the UNWTO World Tourism Barometer.