Azlan Othman
Due to an abundance of low-cost connectivity and an increased preference for travel closer to home, the intra-regional tourism will play a key role in revitalising ASEAN member countries’ tourism economies, says GlobalData, a leading data and analytics company.
GlobalData’s latest report, ‘Tourism Destination Market Insight- ASEAN (2021)’, reveals that in 2019, 44.3 million tourists travelled between the ASEAN member countries. The intra-ASEAN travel is expected to grow at a compound annual growth rate (CAGR) of five per cent from 2019 to 2024 and reach 56.6 million by 2024.
Given the high level of growth, intra-regional travel could be key to the region’s recovery from the impact of COVID-19. The virus caused a 36.9 per cent year-over-year decrease in intra-regional travel in 2020 to a low of 27.9 million arrivals.
Xinhua world economic news summary at 0930 GMT, March 28
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Xinhua world economic news summary at 0930 GMT, March 28
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Xinhua world economic news summary at 0930 GMT, March 28
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