Mastercard report highlights Northeast Asia’s spending power
Mastercard’s latest edition of its Global Destination Cities Index shows mainland Chinese are still traveling overseas for both business and leisure in larger numbers than ever before.
In the last 10 years China has risen from No 7 to No 2 in the global rankings, behind only the US.
Unlike most other major source markets, its middle class segment is still growing significantly.
China was attributed as a major driver behind a surge in travel across the Asia-Pacific region with Thailand and Japan its top two overseas destinations.
In fact along with mainland China, South Korea, Japan and Taiwan account for nearly 19% of global travel spend, the report says.
"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 travelling overseas," said Mastercard Asia Pacific VP for data and services, Rupert Naylor.
This is very evident in mainland China, India and Indonesia, countries where only about 1% of their population on average took overnight trips to the 200 destinations covered by the Mastercard report.
The Mastercard Global Destination Cities Index ranks the 200 cities based on third-party research, incorporating cross-border spending.
The travel industry contributed a record $8.8 trillion in 2018, generating an estimated 319 million jobs.
TravelMole Editorial Team
Editor for TravelMole North America and Asia pacific regions. Ray is a highly experienced (15+ years) skilled journalist and editor predominantly in travel, hospitality and lifestyle working with a huge number of major market-leading brands. He has also cover in-depth news, interviews and features in general business, finance, tech and geopolitical issues for a select few major news outlets and publishers.
Vegas’s Billion-Dollar Secrets – What They Don’t Want Tourists to Know
Visit Florida’s New CEO Bryan Griffin Shares His Vision for State Tourism with Graham
Chicago’s Tourism Renaissance: Graham Interviews Kristin Reynolds of Choose Chicago
Graham Talks with Cassandra McCauley of MMGY NextFactor About the Latest Industry Research
Destination International’s Andreas Weissenborn: Research, Advocacy, and Destination Impact
Graham and Don Welsh Discuss the Success of Destinations International’s Annual Conference
Graham and CEO Andre Kiwitz on Ventura Travel’s UK Move and Recruitment for the Role
Brett Laiken and Graham Discuss Florida’s Tourism Momentum and Global Appeal
Graham and Elliot Ferguson on Positioning DC as a Cultural and Inclusive Global Destination
Graham Talks to Fraser Last About His England-to-Ireland Trek for Mental Health Awareness
Kathy Nelson Tells Graham About the Honour of Hosting the World Cup and Kansas City’s Future
Graham McKenzie on Sir Richie Richardson’s Dual Passion for Golf and His Homeland, Antigua
ADS PRO 
Airlines suspend Madagascar services following unrest and army revolt
TAP Air Portugal to operate 29 flights due to strike on December 11
Qatar Airways offers flexible payment options for European travellers
Airbnb eyes a loyalty program but details remain under wraps
Air Mauritius reduces frequencies to Europe and Asia for the holiday season