Where are the greatest current and future investment needs?
This report looks at the economies within the ten countries of the ASEAN region that have the greatest current and future investment needs for T&T. ASEAN is one of the world’s most tourism dependent regions with Travel & Tourism contributing 12.4% of total GDP, nearly 4% above most of the other world’s regions.
Over the next decade, 1 in 10 of all tourism investment dollars (US$782 billion) will go into region. Despite this, however, given the strong demand for travel to this region (and average growth of 6.3% per annum in each of the next 10 years), countries are still at risk of not investing enough to meet forecast growth. Investment spending will be dominated by five major destinations, which together account for over 80% of international arrivals and total Travel & Tourism GDP: Singapore, Thailand, Vietnam Indonesia, and Malaysia. Future investment in the ASEAN Travel & Tourism sector must be smart, sustainable and well-targeted. With such strong growth forecast for Travel & Tourism in the region, the ASEAN countries that exploit the opportunity of low interest rates to foster necessary infrastructure and investment opportunities will be best-placed to create quality jobs and tax revenues that will contribute strongly to their economies well into the future.
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