The Asia-Pacific travel industry could be the first to | Tech US News

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MELBOURNE, Australia, Nov. 02, 2022 (GLOBE NEWSWIRE) — According to Inspiring Vacations, a provider of exciting experiences around the world including tours to alaska, Tours in Scandinavia and everywhere, the pace of recovery in the tourism industry has been strong, as more places reduce or lift travel restrictions and pent-up demand during the pandemic is unleashed.

Inspiring Vacations explains that certain factors pose a risk to the recovery of the travel industry around the world, including rising inflation, high energy prices, labor shortages at airports and lockdowns in China.

Despite these concerns, the annual report produced by the London-based World Travel & Tourism Council (WTTC) shows that Asia-Pacific is expected to recover at an incredibly strong pace. The report highlighted that tourism receipts in Asia-Pacific fell by 59% in 2020, which was more than anywhere else in the world.

The Alaska tour operator explains that in 2021, with most countries in the region maintaining strong border restrictions, the recovery of the travel industry has been muted. The WTTC report showed that tourism revenue in Asia-Pacific contributed only 16% to regional gross domestic product, while in Europe that figure was 28% and in North America 23%.

This year, however, the WTTC report states that Asia-Pacific travel revenue is expected to contribute 71% to the global economy. Inspiring Vacations says travel in the region is booming, with restrictions eased or lifted in most countries.

The WTTC report expects the Asia-Pacific travel industry to continue gaining traction with positive growth forecast in 2023 and 2024. By 2025, travel revenue is estimated to contribute 32% more to the region’s GDP than pre- pandemic

In more exciting news for the industry, the WTTC report predicts that 126 million new jobs will be added over the next decade, with 65% of the new jobs expected to be in the Asia-Pacific.

Proudly Australian owned and operated, Inspiring Vacations offers tours for everyone at unbeatable value for money. To find out more about exciting experiences around the world, including guided tours of Alaska and excursions to Scandinaviacontact Inspiring Vacations.

Contact information:
Inspirational vacations
founder
[email protected]
1300 88 66 88

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This content was published via the news release distribution service at Newswire.com.

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