Asia enjoys resurgence in tourism

An estimated 14.5 million tourists are expected to visit Hong Kong this year

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By Phil O'Sullivan
CNNfn Correspondent

HONG KONG (CNN) -- When the economic crisis struck Asia in 1997, tourism sank along with financial markets.

But record-breaking numbers of visitors in many Asian countries last year signal that the region is making a comeback as a vacation destination.

An estimated 14.5 million travelers are expected to visit Hong Kong this year, bringing in nearly $8 billion to the local economy.

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"We bounced back to regain lost ground last year, but now we have gone back to a more stable and more steady growth path," said Selina Chow, chairwoman of the Hong Kong Tourist Association.

Olympic gains

The Olympic Games helped Australia attract more people, and weak regional currencies encouraged many travelers both to visit and to spend more money while on their vacation.

Other countries that saw record numbers of tourists include Vietnam, China and New Zealand.

Many Asian destinations doubled the average global tourism growth of 4.5 percent, making the region the fastest growing tourist destination in the world.

But not all areas were successful. Indonesia and the Philippines saw tourism growth stagnate as local unrest prompted tourists to stay away from potentially dangerous areas. In the Philippines, several Western hostages were held captive on a remote island by Muslim extremists.

"It's hurt us a lot," Philippines Tourism Secretary Richard Gordon said, although he noted that the kidnapping occurred hundreds of miles away from the centers of tourism.

The Olympic Games in Sydney gave Australia's tourism industry a boost last year

More Asian travelers expected

Across the region, last year's growth is expected to level off as destinations become more competitive with each other, and rising prices make tourists more choosy.

But this could be offset by rising numbers of Asians becoming tourists themselves.

The World Tourism Organization expects the number of vacationers from the region to double in the next 10 years, and to double again by 2020. And their Asian neighbors are likely to be the first ports of call.

"It is going to be an extremely important industry for us, not only for the travel trade but for the entire community," Chow said.

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Hong Kong Tourist Association
Philippine Department of Tourism

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