News: PATA predicts continued growth in regional travel
Officials on the Pacific Asia Travel Association and the Hong Kong Polytechnic University School of Hotel & Tourism Management released their joint publication, the Asia Pacific Visitor Forecasts 2013-2017. The new forecasts at the complete visitor economy will make it easier for tourism organisations to anticipate demand trends and manage supply. The annual and quarterly forecasts cover a five-year horizon and include price elasticity variables for many of the destinations covered. High-level snapshots from the forecasts show that visitor arrivals to the Asia Pacific region will keep growing with a median annual growth rate of four.1 per cent over the period 2013-2017 and reach 581 million by 2017. At an identical time, north-east Asia will maintain a dominant position within the inbound market of Asia Pacific, and its market share...
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