Asian travel demand will to pick up in 2010, but spending is likely to lag: ITB World Travel Trends Report

Asian travel demand will close five per cent down in 2009 due to sharp declines in travellers from South Korea Europe as Japanese, Chinese, Indians and Thais choose to stay home or travel within Asia. According to the latest ITB World Travel Trends Report, commissioned by Messe Berlin, and compiled by IPK International, travel demand for 2010 is likely to pick up, but spending is likely to lag at around 2005-2006 levels. Prospects for 2010 will be determined by return of consumer confidence in Japan and China.

The ITB World Travel Trends Report findings show that Asian travel demand averaged more than a ten per cent decline from January-June this year. However, some market recovery has been recorded since July 2009, indicating that the Asian travel industry is over the worst. IPK forecasts of a total-year decline of five per cent. While intra-Asian trip volume fell by five per cent from January through August 2009, travel to Europe (14 per cent of total trips) was down ten per cent. Asian travel to the Americas (nine per cent of all Asian trips) slumped by a more 15 per cent.