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Sustainability via tourism – An appropriate shift

 Wednesday, July 5, 2023

The viewpoint of the world financial system is projected to grow up by 2.2%. Asia will be delivering 70% of the economic growth of the world with countries like China, India, Japan and Philippines leading the way. Although still having difficulty, inflation has reached its culmination and in the second half of this year, it will come down gradually with the fortification of many regional currencies. Majority of the main market arrivals, by 2024, is hoped to reach the levels of 2019; by 2025, total arrivals from Asia Pacific will reach 800M. It would be a 115.5% revival rate. Global air capacity by March 2024 is hoped to recover completely, with 7/10 of the busiest airports of the world situated in Asia Pacific.

At present, rising and developing Asian economies are witnessing a 5.3% growth in GDP with 3.9% inflation compared to 6.9% internationally; travelers are now eager to spend more on travel, but in fresh mindsets like being aware in where they are spending their money, more keen on spending when the entire procedure is hassle-free and one-stop, and enthusiastic on recurring spending. Although there are not much people travelling, however, greater amount of spending has been recorded. Now, India is experiencing enormous boost in spending, both in terms of inbound and outbound.

At present, destinations are changing toward responsible tourism rather than just sustainably doing so.