During the time of COVID-19, travel came to a halt for a significant period. Now, as we look back, many have embarked on their “revenge” travel experiences, marking a resurgence in international tourism. In fact, the Asia Pacific (APAC) region is poised to reclaim its position as the world’s largest regional travel market by 2025 after a challenging few years. In 2023, over 516 million tourists visited the APAC region, with Gen Z and Millennials accounting for 50 per cent of these travelers.
Asia Pacific: Half of the world’s top 10 trending destinations
The APAC region boasts five of the world’s top ten trending tourist destinations, experiencing a surge in tourism transactions over the last year. Japan leads the pack globally, with a record number of over three million international visitors in March 2024 alone, thanks in part to a favorable exchange rate. Australia is also making its mark as a top destination, recognized by the World Economic Forum as one of the top five countries for tourism and travel in 2024.
Thailand is expected to fully recover its pre-pandemic tourism levels this year, attracting travelers with its stunning beaches, vibrant culture, and affordable prices. Southeast Asia is increasingly popular among Gen Z travelers, offering affordability, natural beauty, and rich cultural experiences. Malaysia emerged as the most popular destination in the region last year, overtaking Thailand.
The evolving landscape of travel in Asia Pacific
The rebound in internal travel within the APAC region has outpaced international travel, with destinations like Bangkok, Kuala Lumpur, and Perth topping the list for Singaporean travelers. Millennials and Gen Z are opting for shorter intra-regional trips, with Japan, Thailand, and Singapore as the preferred destinations for exploring new experiences and cultures.
Opportunities for travel businesses and startups
The resurgence of travel in the Asia Pacific and Southeast Asia regions presents a host of opportunities for travel businesses and startups. Understanding and adapting to the changing preferences of different generations is key to thriving in this dynamic market. Tailoring offerings to match the travel vibes of different age groups and leveraging social media to inspire and create FOMO are essential strategies for success in the evolving travel industry.
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