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Business Standard
19-05-2025
- Business
- Business Standard
Summer 2025: Tokyo leads but this beach in Vietnam is the real surprise
Asia-Pacific is home to eight the world's top 15 trending summer travel destinations, with Japan leading the global pack, according to to the newly released Travel Trends 2025 report from the Mastercard Economics Institute. Where we're headed: Japan rises, Vietnam surprises Tokyo and Osaka are the world's top two trending summer destinations this year, driven by a mix of cultural magnetism, a weaker yen (which stretches tourist budgets), and a surge in flight bookings. Meanwhile, Vietnam's coastal city of Nha Trang has quietly climbed the charts, thanks to its picture-perfect beaches and vibrant nightlife. It's a stark sign that value-for-money and authentic local experiences are beginning to rival big-name cities in traveler interest. China and India—still Asia's travel titans: The Chinese Mainland retained its position as the world's largest outbound travel market in 2024. Chinese travelers are increasingly prioritizing value and visa- friendly destinations including Japan, Malaysia, and Singapore. Interest in Central Asian destinations such as Kazakhstan, Uzbekistan, and Kyrgyzstan is also increasing. India again posted the country's highest number of outbound travelers on record in 2024. Indian tourists are exploring a broad mix of destinations—the top three being Abu Dhabi, Hanoi, and Bali—with growth supported by expanded direct flight connections and a rapidly growing middle class that is eager to travel. Together, the two markets continue to play an outsized role in shaping global travel flowsA few observations: The top emerging destinations were Tokyo, Japan; Jeddah, Saudi Arabia and Osaka, Japan. Amid the depreciation of the Japanese Yen (JPY), Tokyo became the most visited city in the world in 2024 — displacing Bangkok, which had held the top spot for the past decade. Recent reforms made it easier to travel to Saudi Arabia which spurred a rise in passenger traffic to Jeddah and Riyadh. The government's economic diversification efforts have also attracted newcomers: Investment in massive projects has created jobs and boosted business travel, while the development of tourism and leisure infrastructure is turning the kingdom into an emerging leisure destination. A surge in European visitors boosted Tirana, Albania, into the top 15. In fact, Tirana gained the largest increase in European visitors — led by tourists from Italy — of any city in 2024. Buoyed by a strong U.S. dollar, many Americans chose to travel abroad over the last few years, from Cancun to Tokyo to Rome. Experiences over itineraries: Across Asia-Pacific, travelers are prioritizing dining, nature, and wellness as key motivators for travel, seeking meaningful moments over traditional sightseeing. Destinations like Gianyar in Bali, Indonesia, known for its iconic Babi Guling spit-roasted pork, and Queenstown in New Zealand—where restaurants welcomed tourists from 44 countries in 2024—are standing out as globalized culinary hotspots. According to MEI's Wellness Trend Index2 (WTI), Thailand is among the destinations leading the way in relaxation experiences and self-care, where visitors can reconnect with nature in immersive eco lodges or find calm in meditation retreats. Sports fandom fuels travel: The rise of sports tourism continues, with major events like the Australian Open tennis tournament and Baseball World Series in Los Angeles drawing significant international spend. Shohei Ohtani's World Series debut saw spending by Japanese visitors surge by 91%, six times the broader cross-border boost, highlighting how sporting events are proving to be powerful travel catalysts for fans. Travelers from Asia-Pacific tend to be more sensitive to exchange rate shifts. A weaker yen throughout much of 2024 played a significant role in boosting Japan's inbound tourism, making the country a compelling destination for visitors in search of value. Notably, a 1% depreciation of the JPY against the RMB is associated with a 1.5% increase in tourists from the Chinese Mainland. However, visitors from New Zealand and the U.S. rose only around 0.2% in response to the same degree of depreciation relative to their currencies. In 2024, the number of Singaporean visitors to Japan hit record highs — thanks to a 40% rise in the Singapore Dollar (SGD) vs. Japanese Yen (JPY), even as airfare and hotels got pricier. Turning to the U.S., MEI's analysis shows that tourists from India, Singapore, South Korea, and Taiwan are particularly sensitive to exchange rate fluctuations, after accounting for other factors. Specifically, a 1% depreciation of the United States Dollar (USD) against their local currencies corresponds to an approximate 0.6–0.8% increase in the number of tourists traveling to the U.S. These findings, consistent with our earlier analysis of tourism to Japan, suggest that these travelers are more responsive to exchange rate movements when selecting outbound destinations. Wellness tourism is booming: Namibia, South Africa and Thailand top the Wellness Travel Index with eco-lodges and retreats. Meanwhile, the median restaurant in Istanbul hosted tourists from 67 different countries in 2024. The shifting sands of business travel: Corporates today are limiting global travel in favor of regional trips. And while people are taking fewer business trips overall, the average duration is longer, suggesting efforts to stretch travel budgets. For example, U.S.-based travelers' trips to Asia-Pacific increased from 8.8 days to 10.2 days.
Tahya Masr
15-05-2025
- Business
- Tahya Masr
Wellness, nature and food drive 2025 travel trends in EEMEA, according to Mastercard Economics Institute
The Mastercard Economics Institute (MEI) today released Travel Trends 2025, its annual report with unique and proprietary consumer spending insights globally. While exchange rates and geopolitical dynamics can influence consumer behavior, the report highlights that passions and purpose-driven motivations remain strong drivers shaping the travel industry. Whether drawn by Namibia's wellness retreats, Istanbul's dynamic culinary scene, or Saudi Arabia's emerging leisure hubs, travelers are expanding their horizons beyond traditional hotspots. The globalization of sports has also turned big events into global spending hubs, drawing fans across continents. 'Tourism remains an important driver for growth and diversification in the EEMEA region, and it's great to see that the natural beauty, culinary variety and special experiences across Africa, the Middle East and Eastern Europe, are held in such high regard by travelers. And while economic and geopolitical drivers do impact the decision of where to go, the desire for meaningful experiences still drives a big part of our travel decisions. The tourism landscape in the EEMEA region is evolving, with emerging destinations attracting investment and powering spending. The Mastercard Economic Institute's report offers interesting insights on how countries are capturing the attention of eager travelers looking for something more than just a change of scene,' said Khatija Haque, chief economist EEMEA, Mastercard Economics Institute . Drawing on a unique analysis of aggregated and anonymized transaction data and third-party data sources, the report uncovers what is shaping travel choices today. Key findings for EEMEA region include: Eastern Europe, Middle East and Africa (EEMEA) trends: • Nature-fueled adventures: MEI analyzed major national parks on how commerce in the area is contributing to overall tourist expenditures. Established wilderness giants such as South Africa and Zambia show the highest national park spending as a share of total cross-border, 23.3% and 15.5% in 2024, respectively[2]. • Culinary crossroads: Istanbul tops the list of globalized foodie cities with its median restaurant hosting tourists from 67 different countries in 2024. Doha, Dubai, Marrakech and Cape Town are also on the list with diverse culinary experiences alongside their rich cultural attractions. • Wellness in the wild: Africa is establishing itself as a global leader in wellness-centered travel as consumers prioritize rejuvenation and self-care. The Wellness Travel Index (WTI)[3], developed by MEI to highlight destinations leading the way for wellness experiences and self-care , has Namibia, South Africa, and Botswana among the top destinations for travelers seeking spa-style and nature-based retreats and immersive eco lodges. The rising WTI score for Kenya suggests a growing effort in the destination to meet this popular demand. • Top regional hotspots: Recent reforms made it easier to travel to Saudi Arabia which spurred a rise in passenger traffic to Jeddah and Riyadh. The government's economic diversification efforts have also attracted newcomers: Investment in massive projects has created jobs and boosted business travel, while the development of tourism and leisure infrastructure is turning the kingdom into an emerging leisure destination. • Wheeling and dealing closer to home: In general, business travellers favour trips within their own regions, driven by hybrid work models and geopolitical uncertainty. However, there are exceptions, with UK businesses spending a growing share of their travel budgets in Eastern Europe, the Middle East and Africa (EEMEA) at the expense of trips within their region , Other global trends: Sports fandom fuels travel. MEI examined spending within five miles of the venue for the Champions League Final in London. Real Madrid's victory over Borussia Dortmund led to a 61% YOY increase in German spending, outpacing the overall increase of 14%, whereas Spanish spending spiked by 148% YOY, suggesting fans celebrated by splurging. • Currency changes can impact travel, but it varies regionally. In 2024, currency depreciation drove visitors in search of value to Japan, where a 1% JPY depreciation against the RMB led to a 1.5% increase in Chinese Mainland tourists. However, visitors from New Zealand and the U.S. rose only around 0.2% in response to the same degree of depreciation relative to their currencies. Mastercard is dedicated to helping the global tourism sector grow through market analysis and high-frequency, data-driven insights that enhance the travel experience. By empowering destinations and businesses to better understand evolving consumer trends, Mastercard is helping to shape a more connected and resilient future for travel across Eastern Europe, the Middle East, and Africa. You can view the full 'Travel Trends 2025: Purpose-driven journeys' and other reports and insights from MEI, here .
Economic Times
15-05-2025
- Business
- Economic Times
India logs record outbound travel in 2024, driven by middle class and global connectivity
Live Events India posted the country's highest number of outbound travelers on record in 2024, as per Travel Trends 2025, the annual Mastercard Economics Institute (MEI) report released Thursday. As per the report, Indian tourists are exploring a 'broad mix' of destinations—the top three being Abu Dhabi, Hanoi, and Bali—with growth supported by expanded direct flight connections and a rapidly growing middle class that is eager to travel. Together, the two markets continue to play an outsized role in shaping global travel flows, stated per the report, Asia-Pacific is home to eight of the world's top 15 trending summer travel destinations. While exchange rates and geopolitical dynamics can influence behavior, the report highlights that passions and purpose-driven motivations remain strong drivers shaping the travel and Osaka are the world's #1 and #2 top trending destinations for summer travel (between June-September 2025), with the two largest increases in tourism demand relative to previous 2024, Japan's capital city climbed from the number two spot that it held in 2023 to lead global travel demand heading into the peak summer season, reflecting its continued appeal. Meanwhile, Nha Trang in Vietnam made a surprise entry into the list, climbing in popularity thanks to its beautiful beaches, enviable coastline and vibrant nightlife.(Join our ETNRI WhatsApp channel for all the latest updates)The report stated that Chinese Mainland retained its position as the world's largest outbound travel market in 2024. Chinese travelers are increasingly prioritizing value and visa-friendly destinations including Japan, Malaysia, and Singapore. Interest in Central Asian destinations such as Kazakhstan, Uzbekistan, and Kyrgyzstan is also Mann, chief economist for Asia Pacific at Mastercard said the Asia-Pacific region continues to set the pace for global travel, with buzzing destinations like Tokyo, Shanghai, Seoul, and Singapore capturing the imagination of travelers around the world."Even as economic uncertainty persists, travel remains a bright spot—driven by people seeking meaningful, value-driven experiences. From exchange rates to regional accessibility, travelers are making smarter, more intentional choices about where they go and why, with a clear shift toward more personal, purposeful journeys," he per the report, a weaker yen throughout much of 2024 played a significant role in boosting Japan's inbound tourism, making the country a compelling destination for visitors in search of a 1% depreciation of the JPY against the RMB is associated with a 1.5% increase in tourists from the Chinese Mainland. However, visitors from New Zealand and the U.S. rose only around 0.2% in response to the same degree of depreciation relative to their currencies. In 2024, the number of Singaporean visitors to Japan hit record highs — thanks to a 40% rise in the Singapore Dollar (SGD) vs. Japanese Yen (JPY), even as airfare and hotels got report stated across Asia-Pacific, travelers are prioritizing dining, nature, and wellness as key motivators for travel, seeking meaningful moments over traditional sightseeing. Destinations like Gianyar in Bali, Indonesia, known for its iconic Babi Guling spit-roasted pork, and Queenstown in New Zealand—where restaurants welcomed tourists from 44 countries in 2024—are standing out as globalized culinary rise of sports tourism continues, with major events like the Australian Open tennis tournament and Baseball World Series in Los Angeles drawing significant international spend. Shohei Ohtani's World Series debut saw spending by Japanese visitors surge by 91%, six times the broader cross-border boost, highlighting how sporting events are proving to be powerful travel catalysts for fans.
Time of India
15-05-2025
- Business
- Time of India
India logs record outbound travel in 2024, driven by middle class and global connectivity
India posted the country's highest number of outbound travelers on record in 2024, as per Travel Trends 2025, the annual Mastercard Economics Institute (MEI) report released Thursday. As per the report, Indian tourists are exploring a 'broad mix' of destinations—the top three being Abu Dhabi, Hanoi, and Bali—with growth supported by expanded direct flight connections and a rapidly growing middle class that is eager to travel. Together, the two markets continue to play an outsized role in shaping global travel flows, stated Mastercard. As per the report, Asia-Pacific is home to eight of the world's top 15 trending summer travel destinations. While exchange rates and geopolitical dynamics can influence behavior, the report highlights that passions and purpose-driven motivations remain strong drivers shaping the travel industry. Tokyo and Osaka are the world's #1 and #2 top trending destinations for summer travel (between June-September 2025), with the two largest increases in tourism demand relative to previous levels. by Taboola by Taboola Sponsored Links Sponsored Links Promoted Links Promoted Links You May Like Rich Man Keeps Annoying Royal Guard, But He Didnt Expect This To Happen Beach Raider In 2024, Japan's capital city climbed from the number two spot that it held in 2023 to lead global travel demand heading into the peak summer season, reflecting its continued appeal. Meanwhile, Nha Trang in Vietnam made a surprise entry into the list, climbing in popularity thanks to its beautiful beaches, enviable coastline and vibrant nightlife. (Join our ETNRI WhatsApp channel for all the latest updates) The report stated that Chinese Mainland retained its position as the world's largest outbound travel market in 2024. Chinese travelers are increasingly prioritizing value and visa-friendly destinations including Japan, Malaysia, and Singapore. Interest in Central Asian destinations such as Kazakhstan, Uzbekistan, and Kyrgyzstan is also increasing. Live Events David Mann, chief economist for Asia Pacific at Mastercard said the Asia-Pacific region continues to set the pace for global travel, with buzzing destinations like Tokyo, Shanghai, Seoul, and Singapore capturing the imagination of travelers around the world. "Even as economic uncertainty persists, travel remains a bright spot—driven by people seeking meaningful, value-driven experiences. From exchange rates to regional accessibility, travelers are making smarter, more intentional choices about where they go and why, with a clear shift toward more personal, purposeful journeys," he added. As per the report, a weaker yen throughout much of 2024 played a significant role in boosting Japan's inbound tourism, making the country a compelling destination for visitors in search of value. Notably, a 1% depreciation of the JPY against the RMB is associated with a 1.5% increase in tourists from the Chinese Mainland. However, visitors from New Zealand and the U.S. rose only around 0.2% in response to the same degree of depreciation relative to their currencies. In 2024, the number of Singaporean visitors to Japan hit record highs — thanks to a 40% rise in the Singapore Dollar (SGD) vs. Japanese Yen (JPY), even as airfare and hotels got pricier. The report stated across Asia-Pacific, travelers are prioritizing dining, nature, and wellness as key motivators for travel, seeking meaningful moments over traditional sightseeing. Destinations like Gianyar in Bali, Indonesia, known for its iconic Babi Guling spit-roasted pork, and Queenstown in New Zealand—where restaurants welcomed tourists from 44 countries in 2024—are standing out as globalized culinary hotspots. The rise of sports tourism continues, with major events like the Australian Open tennis tournament and Baseball World Series in Los Angeles drawing significant international spend. Shohei Ohtani's World Series debut saw spending by Japanese visitors surge by 91%, six times the broader cross-border boost, highlighting how sporting events are proving to be powerful travel catalysts for fans.
Egypt Today
13-05-2025
- Business
- Egypt Today
Hurghada, Sharm El-Sheikh named top picks for global travelers in 2025
CAIRO - 13 May 2025: Hurghada and Sharm El-Sheikh have landed among the top 15 trending global summer destinations, according to Mastercard Economics Institute's (MEI) newly released Travel Trends 2025 report. The study spotlights key regional shifts in travel behavior, with wellness, nature, and food-driven tourism leading demand across the Eastern Europe, Middle East, and Africa (EEMEA) region. The report analyzes consumer spending and mobility data to reveal how post-pandemic travelers are seeking more meaningful, experience-based journeys—ranging from eco-retreats and culinary adventures to sports tourism and regional business hubs. Egypt, already known for its heritage and coastal charm, is now seeing renewed momentum from travelers drawn to unique, purpose-led experiences. Highlights from the EEMEA region include: • Hurghada and Sharm El-Sheikh have emerged as global travel favorites for summer 2025, affirming Egypt's role as a leading leisure destination. • Nature and wellness are reshaping regional tourism dynamics, with African destinations like Namibia and South Africa leading the Wellness Travel Index. Egypt's Red Sea resorts stand to benefit from this trend, especially among European and Gulf travelers. • Culinary hotspots are capturing global interest. While Istanbul topped MEI's list of 'globalized foodie cities,' Egypt's own evolving food scene offers growth potential in the region's gastronomic tourism boom. • Intra-regional travel is gaining traction, particularly in the Gulf. Saudi Arabia's rise as a leisure hub reflects broader interest in accessible regional escapes—a trend Egypt could capitalize on through tourism collaboration and connectivity. • Business travel patterns are shifting, with companies focusing on destinations within the EEMEA region. Egypt's improving infrastructure and strategic location position it well to attract more regional business events. 'The report shows that while currency movements and global events matter, people are still prioritizing enriching and memorable experiences,' said Khatija Haque, Chief Economist for EEMEA at Mastercard Economics Institute. As Egypt pushes forward with its tourism diversification strategy and sustainable investment in hospitality and green travel, the country is poised to remain a regional travel leader in the years to come.
