India’s travel and tourism sector is on track to become the fourth-largest domestic travel market by 2030, fueled by rising disposable incomes, a burgeoning middle class, and substantial infrastructure investments. Despite COVID-19’s impact, the sector is showing robust recovery, highlighting the country’s strategic initiatives to boost domestic tourism.
The World Travel & Tourism Council (WTTC) forecasts a substantial economic boost for China’s Travel & Tourism industry in 2024. The sector is expected to contribute ¥12.62 trillion to the national economy, fueled by a surge in domestic travel expenditure of ¥6.79 trillion. However, international tourist spending is still lagging behind pre-pandemic levels due to delayed travel restrictions in China. Despite the positive outlook, the sector is still slightly behind 2019 employment figures, with a projected 10.6% of total employment in China this year.
AirAsia Philippines is anticipating robust travel demand for the latter half of 2024, driven by increased travel spending among Filipinos. A survey by Klook indicates that over 70% of Filipinos plan to allocate more funds towards travel this year, with 76% expressing readiness for international trips. AirAsia Philippines has partnered with Klook to promote popular destinations in Japan. The airline’s load factor data for Q2 shows that over 78% of travelers have already booked flights for immediate travel until June 2024, primarily to destinations such as Taipei, Bangkok, and Narita. AirAsia Philippines is optimistic about its Q2 performance, expecting to surpass its Q1 load factor of 92% due to increasing last-minute summer bookings and frequent promotional offers. To encourage travel, AirAsia is offering one-way base fares starting from PHP1,750 to destinations in Australia until March 2025. AirAsia Philippines is expanding its flight schedule with daily flights from Cebu hub to Boracay and Davao, as well as increased frequencies to various domestic and international destinations.
Domestic tourism in China has surged despite broader economic challenges, providing a lifeline to the Chinese economy. During the recent Labour Day holiday, travel within China surged 28% compared to pre-pandemic levels. However, international tourism remains subdued, highlighting the impact of travel restrictions and geopolitical dynamics. The government is encouraging domestic consumption to mitigate economic struggles, and the tourism sector is seen as a key driver of economic growth and employment. Despite positive trends, low per capita consumption and a lack of international tourists remain challenges.
Indians are exploring new and off-the-beaten-path foreign destinations, with significant interest in locations like Hong Kong, Almaty, Paro, Baku, Da Nang, and Tbilisi. Dubai, Bangkok, and Singapore remain top destinations, while London, Toronto, and New York lead long-haul travel searches. Spiritual tourism within India has surged, with Ayodhya, Ujjain, and Badrinath witnessing significant growth. Weekend getaways continue to be popular, with Jim Corbett National Park emerging as a top choice.
