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Fantastic and insightful report - '2023-2024 Cross-border Tourism Consumption Trend Research Report' - prepared by Mastercard with the World Tourism Alliance, Ctrip Group, and Ant Group. Tourism consumption patterns are evolving, and amongst other things, the report highlights four major consumption trends, namely: - Economic growth unleashed the potential for cross-border tourism consumption - The experience and event economy fueled consumption vitality - The era of “value for money” made comfortable experiences the new preference - Asia Pacific destinations witnessed strong growth The report delves into key trends driving China's tourism recovery to uncover the implications for destinations in China, Asia Pacific, and beyond. Well worth a read. #Tourism #Insights #Mastercard #Travel

China's tourism economy is recovering rapidly. As the largest source country and major destination for cross-border tourism, China is continuously discovering its potential, injecting more confidence and momentum into the recovery and development of the global tourism industry. We had the pleasure of presenting the '2023-2024 Cross-border Tourism Consumption Trend Research Report' prepared with the World Tourism Alliance, Ctrip Group, and Ant Group at the Europe-China Tourism Dialogue Ministerial Meeting earlier this month. The report delves into key trends driving China's tourism recovery to uncover the implications for destinations in China, Asia Pacific, and beyond. Read the report here: https://lnkd.in/d8eeqPKi #China #Travel #Priceless

🚨 Have you ever heard of Tourism Leakage🚰 Tourism means a lot of things to different people, but for those who live in these attractive travel destinations, it sometimes means very little or nothing at all. Here's why... 💰Tourism is worth about 10 trillion US dollars to the global economy. 🛬 A vast majority of that money goes to airlines, hotels, and tour groups. 🗺 According to one UN report, as little as 25% of the cash from international tourism goes to the host country. 🤷🏾♀️ Often, very little of that amount actually trickles down to local people. Hence, tourism leakage... So, is there a way to do things differently so that local people have more control over tours and can benefit directly from these experiences? Well, in one village in Thailand, a man by the name of Somsak Boonkam or Pai is changing tourism and getting it to work for everyone. His radical idea is seeing more community members getting involved in designing tours, helping them make money, and organising them to set up projects that improve their village. ✅ 💡 Find out more about Local Alike and how this is slowly transforming tourism in #Thailand here: https://lnkd.in/eV-UykWc #PeopleFixingTheWorld #Toursim #ChangeMakers #

Turkey’s strategy for tourism: a big bet on China’s travelers https://lnkd.in/gRKwxNGH By 2030, Turkey expects to welcome 2 million Chinese tourists, a nearly fourfold increase from pre-pandemic levels. Projections anticipate more than half a million Chinese visitors by 2025.

ICYMI: Kazakh Tourism Opens First International Office in India: The opening of this office marks a significant step for Kazakh Tourism and potentially paves the way for more international tourism ventures in the future. SOURCE: Kazakh Tourism Opens First International Office in India BY: eTurboNews | eTN #Kazakhstan_Travel_News #kazakhstan #kazakhtourism #satte2024

Xi outlines plan to turn China into tourism powerhouse The Chinese president urged tourism development in China "to be guided by the idea of socialism with Chinese characteristics in the new era, to fully, precisely and comprehensively implement the new development concept, and to adhere to the principle of preserving traditional foundations and developing innovation, improving quality and efficiency" BEIJING, May 22/ Chinese President Xi Jinping has urged to make China an innovative tourist power promoting traditional values, reads a statement on the "important instructions" of the leader and the ruling party in this area, which the Chinese Foreign Ministry handed to the TASS office in Beijing. "China has created the largest inner-tourism market worldwide and become a leading country in global outbound travel, as well as a leading destination," the leader noted. Xi "gave some instructions for the work in tourism, stressing the importance of the necessity to improve the existing system and to make China a tourism power," the statement reads. The Chinese president urged tourism development in China "to be guided by the idea of socialism with Chinese characteristics in the new era, to fully, precisely and comprehensively implement the new development concept, and to adhere to the principle of preserving traditional foundations and developing innovation, improving quality and efficiency." Meanwhile, Xi admitted that tourism development now faces not only opportunities but also challenges. He did not specify what he meant. According to him, tourism must improve people's quality of life, further develop the economy, build spiritual pillars, showcase China’s image and expand exchanges between countries. On May 17, the All-China meeting on tourism development took place. There, the importance of protecting and promoting Chinese cultural heritage, as well as development of tourism amid the national specifics was discussed. #business #finance #financialservices

Thailand drops 11 places in tourism ranking

⚡️In 2024, world tourism will exceed the level of 2019, having fully recovered after the pandemic. #Global #tourism ended 2023 at 88% of pre-pandemic levels, with an estimated 1.3 billion international tourist trips. Citing "the release of residual pent-up demand, increased air connectivity and a stronger recovery in Asian markets and destinations", the UNWTO expects international tourism to fully recover by the end of 2024. 📍Regional indicators for 2019: • Middle East outperformed by 22% • Europe recovered by 94% • Africa recovered by 96% • America recovered by 90% • Asia-Pacific recovered by 65%. However, the numbers are mixed, with South Asia already recovering 87% of 2019 levels and Northeast Asia 55%. Before the outbreak of the coronavirus, the global tourism sector had seen almost continuous growth for decades. Since 1980, the number of international trips has increased dramatically from 277 million to almost 1.5 billion in 2019

Cambodia’s tourism earns $3.04 billion revenue in 2023 #tourism February 13, 2024 Cambodia’s tourism earned gross revenue of $3.04 billion in 2023, up 115 percent from $1.41 billion in a year earlier, according to a Ministry of Tourisms report released on February 12, 2024. The kingdom received 5.45 million international tourists last year, up 140 percent from 2.27 million in the year before, the report said. READ HERE: https://lnkd.in/g6U-h85j

Powering Philippine growth and prosperity through tourism