Tourism investment takes flight in asia

According to The Asian Development Bank, Asia will account for half of global GDP by 2050. Combined with improved airline connectivity and an expanding middle class, Asia is a hotbed of investment and tourist activity. Indeed, JLL figures show that hotel transactions in the region exceeded expectations to hit $1.3 billion in the first six months of 2013, 85 per cent higher than last year.

President and CEO of the World Travel & Tourism Council and TravelRave attendee, David Scowsill, told Travel Daily Media: “A global comparison reveals that the growth of Travel & Tourism’s contribution to GDP in 2013 will be the highest in Asia, exceeding the world average of 4.4% and outpacing even other fast-growing markets like Latin America and the Middle East.”