The travel and tourism sector is an important income generator for Sri Lanka. However, the ongoing economic crisis coupled with Ukraine–Russia war and China’s zero-COVID policy has put the sector in jeopardy. Against this backdrop, the country will face an uphill task in restoring a once thriving sector, says GlobalData, a leading data and analytics company.
Sydney’s hotel industry saw lower performance from the month prior, but comparisons against 2019 levels held steady, according to preliminary July 2022 data from STR.
India leads Asia-Pacific in its intent to travel in the second half of 2022 with 50% Indians expressing the desire to spend more money on booking a vacation in the world’s largest survey of travel intentions from Travel Lifestyle Network (TLN) in a post-pandemic setting. While international travel still remains a point of contention among many, with only 15% respondents willing to travel abroad, 29% people are planning to vacation in India . India emerged as the global leader in domestic travel with 24% people undertaking at least one vacation every month, for which the global average stands at 11%. The country is also way-ahead of its global counterparts in business travel with almost 18% Indians travelling for work within the country once a month.
Melbourne’s hotel industry was back on the recovery track with higher performance from the prior month, according to preliminary June 2022 data from STR.
The World Travel & Tourism Council (WTTC) has revealed the Travel & Tourism sector in China is expected to create more than 30 million jobs over the next decade, representing a quarter of all new jobs globally.
The World Travel & Tourism Council (WTTC) has revealed the Travel & Tourism sector in Japan will provide a significant boost to the nation’s economic recovery next year, with its GDP contribution set to reach near pre-pandemic levels.
The World Travel & Tourism Council (WTTC) has revealed South Korea’s Travel & Tourism is expected to create nearly half a million jobs over the next decade.
The World Travel & Tourism Council’s latest Economic Impact (EIR) reveals Indonesia’s Travel & Tourism sector is expected to create more than five million new jobs over the next decade.
Sydney’s hotel industry reported steady occupancy, while room rates fell slightly from the prior month, according to preliminary May 2022 data from STR.
This report by Horwath HTL in Australia provides an outlook for ten key city markets across Australia, assessing the recovery made to date in March 2022 and the outlook for future growth.
Among key hotel markets in the Asia Pacific region, Sydney’s gross operating profit per available room (GOPPAR) level came closest to its 2019 comparable, according to STR’s April 2022 P&L data release.
Research conducted by the World Travel & Tourism Council (WTTC) has revealed the Travel & Tourism sector’s contribution to the Indian economy could surpass pre-pandemic levels this year, with a year-on-year growth of 20.7%.
India’s hotel performance recovery resumed early in 2022, but April seemed to be the turning point with the country outpacing pre-pandemic comparables in occupancy and average daily rate (ADR) for three consecutive weeks.
Singapore’s mid-market hotel sector will continue to post healthy post-pandemic growth performance, fueled by increased tourist demand and reflected by heightened investment. According to JLL’s Singapore mid-market hotels outlook 2022, occupancy and investment into the sector will continue to recover in the second half of the year despite broader economic challenges including staffing shortfalls and inflationary-driven supply issues, and more industry-specific requirements such as digital upgrades to properties.
Accor, the largest hotel operator in Australia, has recorded growth in occupancy across its network of 66 hotels (10,200 rooms) in Victoria, but its city and suburban properties are still being impacted by delayed recovery in business and meetings travel.
Lifted by the Australian Grand Prix, Melbourne’s hotel industry reported its highest monthly room rates on record, according to preliminary April 2022 data from STR.
Amid continued recovery from the Omicron wave, India’s hotel industry eclipsed pre-pandemic comparables in occupancy and average daily rate (ADR) for three consecutive days during the second week of April, according to preliminary data from STR.
Thailand’s battered hotel sector is showing increased signs of fatigue as the global pandemic enters its third year. Nowhere is this more apparent than the resort island of Phuket, where over 73% per cent of new hotel developments either lay dormant or have been put in hold. According to data in the newly released Phuket Hotel Market Update 2022 from C9 Hotelworks hospitality consulting, the once robust island hotel pipeline has owners now suffering from ‘fear factor’ as they continue to reel in the wake of a volatile marketplace and unclear future outlook.
The World Travel & Tourism Council’s latest Economic Impact Report revealed last year the Philippine’s Travel & Tourism contribution to the nation’s economy climbed 129.5.% year on year, to reach US$ 41 billion.
Following the Beijing Winter Olympics and Paralympics, China’s domestic ice and snow economy continues to boom. According to the latest data, the number of participants in ice and snow sports across the country reached 346 million after the Olympics achieved nearly 600 million domestic TV viewers. However, as the second host city of a pandemic-era Olympics, how did Beijing’s hotel market fare? What were the performance differences among the city’s submarkets? How did that performance compare with pre-pandemic periods?