However, the tourism industry of the region will grow remarkably in 2022 when the first countries to ease entry restrictions such as Australia, India, Malaysia, Thailand and Southeast Asian countries. The latest are South Korea, Japan and Taiwan (China).
The WTTC expects the Asia-Pacific tourism industry to continue to grow in 2023 and 2024. It is estimated that by 2025, revenue will contribute 32% more to regional GDP compared to before the pandemic and will far exceed other regions in the world, except the Middle East (30%).
According to forecasts, the average annual growth rate of the global economy from 2022 to 2032 is 2.7%; and the average contribution of the tourism industry will grow by about 5.8%. In the Asia-Pacific region alone, the WTTC expects tourism's contribution to GDP to increase by an average of 8.5% per year.
The global tourism industry will contribute 126 million new jobs in the next decade, of which 65% are in the Asia-Pacific region with half in China and India. Indonesia, Thailand and the Philippines are the countries that will see the tourism market grow in the next 10 years, with figures of 5.3 million, 3.5 million and 3.15 million new jobs respectively.
