Indian tourists are streaming into Southeast Asia, cementing the world's most populous country's position as a key growth market for a travel and tourism sector that is feeling the pinch of China's slower-than-expected re-opening. From airlines like IndiGo and Thai Airways to hospitality chains offering thousands of rooms, companies are tapping into India's burgeoning middle-class and growing spending power, executives and analysts said. "Southeast Asia is obviously very well positioned for a lot of the growth that is inevitably going to come from India," aviation analyst Brendan Sobie told an industry conference last month. Nirvhay, a tourist from India poses for a portrait as he walks with his family at Patong beach in the island of Phuket, Thailand July 14, 2023. REUTERS/Jorge...
Read MoreTag: outbound tourism
Due to plummeting traveller confidence and stringent COVID-19 measures, outbound tourism from South Korea reduced to mere fractions of what they were in pre-pandemic times. Nevertheless, with the country now easing some of its pandemic restrictions, tourism demand among South Korean travelers is set to flourish, finds GlobalData, a leading data and analytics company. GlobalData’s latest report, ‘South Korea Source Tourism Insight Report including International Departures, Domestic Trips, Key Destinations, Trends, Tourist Profiles, Analysis of Consumer Survey Responses, Spend Analysis, Risks and Future Opportunities, 2022 Update’ reveals that outbound tourism declined by 80.6% YoY from 2019 to 2020, to just 5.6 million international departures. Prior to COVID-19, South Korea was the thi...
Read MoreAsia's gradual easing of international travel curbs is proving a welcome relief for the region's hard-hit tourism operators slowly opening up to visitors from around the world - with one giant exception. China, previously the world's largest outbound tourism market, is keeping international air capacity at just 2% of pre-pandemic levels and has yet to relax tight travel restrictions as it sticks to zero tolerance for COVID-19. That has left a $255 billion annual spending hole in the global tourism market for operators such as Thailand's Laguna Phuket to try and fill. Foreign tourists are seen next to the Reclining Buddha at Wat Pho, a day after country's reopening campaign which is a part of the government's plan to jump start the pandemic-hit tourism sector in Bangkok, Thailand,...
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