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We've written extensively about the travel effects identified in our report Shaping the future of travel in Asia Pacific – but I think one of the most interesting effects is ‘The Red Tape Effect’. It will have a massive impact on the future travel landscape in the region and let me tell you why.
We will see greater cooperation between economies across the region as governments continue to liberalise the regulations that have impeded trade, and associated travel. This will be most obvious with the liberalisation of visa requirements, which 6% of travellers quote as their main impediment to travel. Other roadblocks to travel include a lack of funds, lack of time or company travel restrictions.
Imagine the impact of lifting the red tape on visa restrictions? It will mean more people can travel, but more importantly, it will mean more people wanting to travel.
By 2030, we will see the greatest results of the red tape effect in India, China, and Indonesia as these markets are expected to dominate travel spend in Asia Pacific.. At the same time there will be shifts in inbound travel markets, especially for business travel whether at the small-to-medium enterprise (SME) or corporate level.
While markets such as Singapore, Thailand and Malaysia will remain strong, we expect the highest growth to come from emerging markets, such as China, and from markets that are not heavily travelled on the tourist map today, but will offer huge potential, mainly because of their natural resources, tomorrow. In an increasingly resource-constrained world, Mongolia, Papua New Guinea and Myanmar will become the new hot-spots for travel.
For more information about this important travel effect – download the full report and let us know your opinion.