KP Ho, chairman of Banyan Tree Holdings, says now is the time for Asia to seize the opportunity to shape a new future but does its business leaders have what it takes? Catch what else he has to say about the new Asia and the new era of travel and tourism in this video interview with Yeoh Siew Hoon.

The rise of Asia as the new economic engine of the world is undeniable but what’s in doubt is whether its business leaders have the awareness and will to shape the new Asia of tomorrow.

Chairman of Banyan Tree Holdings, KP Ho, says there is a historical opportunity for Asia to bring a new social, cultural and economic ethos to the global economy but Asia’s business leaders were not showing the thought leadership that’s needed for that to happen.

Believing that business leaders are as important as political leaders in determining the future of society, he said Asian owners of companies must have a greater intellectual interest in what Asia is going to become “rather than just being a tycoon”.

Citing the EU as an example, where there is convergence of business, academia, intellectual thought and politics, “which is why Davos works”, he adds, ““Asia’s business leaders have a stake in creating the Asia of tomorrow, not just in Corporate Social Responsbility” but in “total social responsibility”.

He said there was hope in the younger business leaders coming through, particularly in East Asia, whose societies have maintained their unique, distinct identities, unlike ASEAN whose political leaders he said were “wearing fig leaves”.

“We need in China successful business people who say we have a stake in this society.”

The same thought leadership also needs to be shown by Asian tourism leaders to shape the new era of tourism.

He said the world was now seeing the era of Asian tourism, both inbound and outbound. Giving it the term “rainbow tourism”, where white is no longer the dominant colour, he said, “There are no young Asian tourism leaders rising to the occasion to set a new norm for service standards.”

“What is going to be Asia’s contributions to this new future?”