WTTC: Asia Travel Industry to Grow 6 Percent Per Year

Of the 70 million new jobs travel and tourism will stimulate globally by 2023, two thirds – some 47 million – will be in Asia, the World Travel and Tourism Council (WTTC) President David Scowsill said at the opening of the WTTC Summit in Korea. Asia’s travel and tourism sectors is forecast to grow six percent per year over the coming decade, Scowsill said.

“This phenomenal growth will be driven by increasing wealth among Asia’s middle classes, particularly in China. The United Nations describe it as a historic shift, the likes of which has not been seen for 150 years. Asia’s middle class is forecast to triple to 1.7 billion by 2020,” Scowsill said.

The two-day Summit, which featured a keynote address by former British Prime Minister, Tony Blair, is focused on how to best exploit the huge projected growth in tourism throughout China, Korea and the wider Pacific region, while urging developed Western nations not to miss out by introducing taxes which will lose more money than they generate.

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