Phnom Penh: A recent study by US financial services firm Mastercard revealed travelers from South Korea, Japan, China and Taiwan make up a massive 20 percent of total global tourism spending.
The new statistics show a 11 percent increase in spending compared to ten years ago, according to Mastercard’s “Global Destination Cities Index: Origins.”
“What’s most fascinating for us from an Asia Pacific perspective is the fact that, not only has this region’s spend contribution to global travel expenditure nearly doubled in the last decade, but we’ve barely scratched the surface in terms of percentages of the populations that are traveling overseas,” said Rupert Naylor, Mastercard’s senior vice president of data and services for Asia Pacific in a report.
The tourism industry remains a powerful sector for the global economy. Last year, the world tourism industry generated $8.8 trillion in revenue and created 319 million jobs, according to the World Travel & Tourism Council.
The top travelers in the world were ranked by country with the US coming in first place, followed by China, Germany and the UK. South Korea, Japan and Taiwan all ranked in the top 10.
Last year, Chinese tourists made 140 million trips to foreign countries, a 14 percent year-on-year increase, according to the China Tourism Academy (CTA).
The tourism industry of Cambodia continues to be robust and remains one of the main economic drivers of the economy that has hugely benefited from Asian travelers.
Over 6 million tourists arrived in the Kingdom last year, ranking Cambodia as the seventh most visited country in the world in 2018 with the majority of visitors coming from Asia. The tourism sector generated over $4 billion in revenue for the Kingdom.
The Kingdom experienced a 37 percent increase in Chinese mainland visitors in the first four months of the year that totaled to nearly 887,000 Chinese tourists, according to the Ministry of Tourism. Vietnam came in second with over 186,000 tourists visiting, followed by Laos with over 121,000 and Thailand with nearly 8,000 tourists.
Additionally, in the first quarter of the year, nearly 96,000 South Koreans visited the Kingdom, according to the Ministry of Tourism.