Asia-Pacific tourists seen world’s biggest spenders by 2023: study

April 6, 2014 10:47 am

According to a report commissioned by travel technology firm Amadeus, the Asia-Pacific will overtake Europe as the region whose tourists spend the most money overseas within 10 years, driven by an explosion in the number of Chinese travellers, AFP has reported. Spending by tourists from the Asia-Pacific will reach nearly $753bn by 2023, increasing the region’s share of global spend to 40% from 25% in 2012, the firm said. In contrast, travellers from Europe will account for 34% of global outbound spend by the same year, down from 45% in 2012, the report said. “No matter where we look, Asian travellers have and will continue to change the landscape of travel, and business must adapt to them or risk falling behind,” said Amadeus Asia Pacific President, Angel Gallego.