Total travel and tourism GDP contribution APAC 2022-2033, by country
Contributing a staggering 582.8 billion U.S. dollars to China’s GDP in 2022, the travel and tourism industry proved to be a vital industry for the East Asian country’s economy. This pivotal industry provided huge GDP contributions to a number of countries across the Asia-Pacific region. The likes of Japan and India both saw impressive figures, while Southeast Asia alone has experienced constant GDP increases from the travel and tourism industry.
Why Asia-Pacific?
The travel and tourism industry has made significant monetary additions to many developing economies throughout the Asia-Pacific region. Southeast Asia stands in the foreground as one of the regions which relies heavily on its tourism success. A success which could be inferred through the rising number of tourist arrivals to the ASEAN states. A likely reason why APAC has become one of the leading regions for tourism, could be related to its competitive prices. Many countries in the Asia-Pacific region are cheaper than the usual Western tourist hotspots, in this way, the region has begun to appeal to an increasing number of international travelers.
Domestic tourism
The Asia-Pacific region has not only attracted international tourists throughout recent years but has also received a great influx of domestic tourists. Growing economies in the region, resulting in an emerging middle class, have made the possibility of increased domestic travel a reality. Intra-regional tourism accounted for approximately half of APAC’s tourism.
