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Indian travelers spent $34.2 billion on outbound travel in 2023, according to the World Travel & Tourism Council. But the current level of Indian travel is "minuscule" compared with what's to come, Alan Watts, Hilton's Asia-Pacific president, told "Squawk Box Asia" Monday. "India outbound will be the story of the next decade." By 2034, Indian travelers' outbound spend is projected to more than double to $76.8 billion, according to the World Travel & Tourism Council's Economic Impact 2024 report — which would make the country the seventh-largest travel spenders in the world, up from 12th in 2023. "When you think of India, it has the characteristics of China, which is the second largest lodging market in the world," said Watts.
Persons: what's, Alan Watts, Watts Organizations: Tourism Council, Hilton's, Tourism Locations: Hilton's Asia, Pacific, India, China
During the first nine months of 2024, international arrivals worldwide reached 98% of pre-pandemic levels, compared to the same period in 2019, it said. The remaining 2% gap will close this month, according to the organization, marking a momentous shift in the industry into a new era of growth. Growth in the region during that timeframe was led by an increase of visitors to Qatar (+141%) and Saudi Arabia (+61%), it said. Epicenter of global growthInternational travel in Asia-Pacific may be lagging behind today, but it's expected to be the epicenter of global travel growth in the coming decades. 'Back with a vengeance'Global recovery has been thwarted by the slow return of two types of travelers: Chinese outbound travelers and business travelers.
Persons: Alan Watts, Hilton, Watts, Anthony Capuano Organizations: Council International Asia, Indonesia . Hospitality, Hilton's, Marriott International, Sheraton, CNBC Travel, Marriott Locations: U.N . Tourism, Qatar, Saudi Arabia, Africa, Europe, Americas, Asia, Pacific, Middle, China, India, Indonesia, Hilton's Asia, Vietnam, Japan, Southeast Asia
Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailIndian travelers will be 'the story' of the next 10 years, says Hilton APAC PresidentHilton Asia-Pacific President Alan Watts told Squawk Box Asia that outbound travelers from India increased from 10 million to 27.3 million in 2024. He said present-day travel from India "is minuscule compared to what it's going to be in the future."
Persons: Hilton, Alan Watts, Squawk Organizations: Hilton Asia Locations: Pacific, Asia, India
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Hotel rates are at an "all-time high," Alan Watts, Hilton's Asia-Pacific president, told "Squawk Box Asia" on Thursday. In parts of Asia Pacific, hotel rates are climbing even higher. Rates in Asia are skyrocketingThe travel boom in Asia Pacific has been "phenomenal," said Watts. Average hotel rates across Southeast Asia have gone up more than 10% since 2022, according to data from the travel booking company Traveloka. Ctrip, the leading travel booking website in China, also told CNBC that average hotel booking prices in Bangkok jumped by around 70% in late January.
The Asia-Pacific travel boom has been 'phenomenal,' Hilton says
  + stars: | 2023-03-02 | by ( ) www.cnbc.com   time to read: 1 min
In this videoShare Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailThe Asia-Pacific travel boom has been 'phenomenal,' Hilton saysAlan Watts, the company's Asia-Pacific president, says it has another 774 hotels in the pipeline.
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