Europe Will Supersede APAC as Leading Travel Region
Skift Take
- A new report from international travel industry analysts, the Centre for Aviation, predicts the Asia Pacific region will no longer be the world’s largest travel region by the end of 2022.
- Hyatt Hotels announced the opening of the Fuji Speedway Hotel in Shizuoka, Japan, the first property within The Unbound Collection by Hyatt brand in Japan.
- Business Line reported Accor plans to divest its stake in Indian ventures, opting to go asset-light through management contract deals.
A new report from international travel industry analysts, the Centre for Aviation, predicts the Asia Pacific region will no longer be the world’s largest travel region by the end of 2022, ceding the title to Europe. They discussed how aviation in the region remains down by 45% compared to pre-pandemic levels while European air travel has recovered to roughly 85% of pre-pandemic levels. That being said, we believe the reason is that China is still locked up/locked down. In 2019, 3.38 billion passengers transited through Asia Pacific airports. CAPA reported current predictions that only 1.84 billion passengers will pass through Asia Pacific hubs by the end of this year. Most travel in AP destinations remains at 50% or more below 2019 levels. India is the standout at only 11% below 2019. CAPA predicts Asia Pacific will not see a full return to pre-pandemic travel figures until the end of 2023 or early 2024.
Hyatt Hotels announced the open
