Analysis of destination markets, infrastructure and attractions, main and emerging source markets, as well as risks and opportunities in the ASEAN region. This report explores the types of travelers that visit the region as well as a SWOT analysis. Thailand, Singapore and Indonesia are explored in more detail.
- Prior to COVID-19, inbound flows to the ten ASEAN member countries were growing at a CAGR of 7.7% between 2016 and 2019, to reach 136.9 million international arrivals in 2019. Many factors had contributed to this notable growth, including ASEAN's heritage and natural attractions, improved tourist facilities, affordable connectivity, a rising consumer class and geographic proximity to China and India.
- A significant portion of this growth can be attributed to ASEAN's largest destination markets of Thailand and Malaysia, which combined, attracted nearly half (48.3%) of international arrivals (66.2 million) to ASEAN in 2019, Entering the global pandemic, inbound flows to the ASEAN region plummeted, with international arrivals declining by 78.8% YoY to 29.0 million in 2020.
- Nevertheless, as member countries go through a phased reopening and travel begins to resume worldwide, GlobalData forecasts that inbound flows will grow at a CAGR of 10.7% between 2022 and 2024, to reach 142.0 million international arrivals by 2024.
- The COVID-19 pandemic hit the Asia-Pacific (APAC) region first, exposing the high dependency of the ASEAN member countries' tourism economies on Chinese tourists. In 2014, arrivals from Mainland China accounted for 13.0% of international arrivals (12.4 million) to ASEAN member countries, increasing yearly. By 2019, arrivals from Mainland China accounted for nearly a quarter (23.0%) of international arrivals to the ASEAN region, as inbound flows from China to the ASEAN region increased rapidly to 31.5 million international arrivals by 2019 (CAGR 2016-19: 15.7%).
- Tourism plays an important role in ASEAN economies as a pillar of GDP contribution. As COVID-19 saw inbound tourism expenditure decline by 80.9% YoY in 2020, domestic and intra-regional tourism will play a key role in revitalizing the ASEAN countries' tourism economies. Tourists from Singapore are the most mobile in the ASEAN region and the blocs second-largest source market, with international trips to other ASEAN countries expected to reach 13.6 million by 2024. Concurrently, travelers from Singapore were the 9th highest spenders globally in 2021, spending on average $2,348 on overseas trips per person.
- Relative to APAC, the Middle Eastern source market is relatively small accounting for just 1.0% (780,300) of total international arrivals to ASEAN member countries in 2021. However, Middle Eastern countries are important markets as they have the potential to generate growth given their population size, expenditure potential and likelihood to stay longer due to ASEAN being a long-haul destination. Travelers from Qatar are the second highest spenders globally, spending on average $3,466 per overseas trip, per resident. This is expected to rise to $3,702 by 2024.
- This report is part of GlobalData's Destination Market Insights Series. These reports provide an in-depth analysis of a tourist destination and its key source markets, as well as an assessment of the trends and issues in the covered destination market, in this case the ASEAN region.
Reasons to Buy
- Obtain a clear and detailed insight into new developments in a burgeoning tourist destination.
- Use data and analysis to explore trends related to international arrivals and spending, tourism segments as well as construction, airlines and hotel developments.
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