Connect with us

Banking

Bangkok Tops Mastercard’s Cities Index For The Fourth Consecutive Year

Bangkok remains the No. 1 destination, with more than 22 million international overnight visitors, but Dubai tops the list for spending.

Boris Sullivan

Published

on

The Global Destination Cities Index—which ranks 200 cities based on proprietary analysis of publicly available visitor volume and spend data—reveals that Bangkok remains the No. 1 destination, with more than 22 million international overnight visitors.

Paris and London, in flipped positions this year, hold the No. 2 and 3 spots, respectively both hovering over 19 million. All top ten cities saw more international overnight visitors in 2018 than the prior year, with the exception of London, which decreased nearly 4 percent.

The forecast for 2019 indicates across-the-board growth, with Tokyo expecting the largest uptick in visitors.

Big spenders prefer Dubai

When looking at the cities by dollar spent, Dubai tops the list with travelers spending USD $553 on average a day.

Makkah, new to the top 10 last year, remains at No. 2 for the second consecutive year, with Bangkok rounding out the top three.

Notably this year, the Global Destination Cities Index offers a decade of insights to consider, with three key trends standing out.

  • Consistent & Steady Growth: Over the past decade, the one constant has been continual change. Each year, more people are traveling internationally and spending more in the cities. Between all of the destinations within the Index, arrivals have grown on average 6.5 percent year-over-year since 2009, with expenditure growing on average 7.4 percent.
  • The Sustained Dominance of Major Cities: While there has been significant movement in visitors to smaller cities, the top 10 has remained largely consistent. London, Paris and Bangkok have been the top 3 since 2010, with Bangkok as No. 1 six of the past seven years. New York is another top 10 stalwart, with 13.6 million overnight visitors this year.
  • The Rise of Asia-Pacific International Travelers: Cities in the Asia-Pacific region have seen the largest increase in international travelers since 2009, growing 9.4 percent. In comparison, Europe, which saw the second highest growth, was up 5.5 percent. This is spurred on by the growth in mainland Chinese travelers. Since 2009, mainland China has jumped up six places to be the No. 2 origin country for travelers to the 200 included destinations—behind only the U.S.

The Global Top 10 Destination Cities in 2018

2018 International Overnight VisitorsGrowth Forecast for 2019Average Length of StayAverage Spend Per Day (USD)
Bangkok22.78 million3.34%4.8 nights$184
Paris19.10 million2.24%2.5 nights$296
London19.09 million3.47%5.8 nights$148
Dubai15.93 million1.68%3.5 nights$553
Singapore14.67 million4.0%4.2 nights$272
Kuala Lumpur, Malaysia13.79 million9.87%5.7 nights$142
New York13.60 million2.94%7.9 nights$152
Istanbul13.40 million8.14%5.8 nights$106
Tokyo12.93 million10.02%5.4 nights$196
Antalya, Turkey12.41 million8.14%14.0 nights$44
Comments

Banking

APAC corporates likely to improve in 2021

Moody’s Investors Service says in a new report that credit conditions in APAC will improve in 2021, supported by the gradual recovery of economic activity given the early containment of the pandemic in several Asian economies.

Pr News

Published

on

By

Ongoing fiscal and monetary support in both advanced and emerging markets will also aid improving conditions, but renewed lockdowns in parts of the world have stalled the nascent global economic recovery and create uncertainty around improving credit conditions.

(more…)
Continue Reading

Banking

Can Fintech drive a strong post-COVID-19 recovery in Asia?

The pandemic has highlighted the power of digital technology. Now is the time to harness this power for inclusive growth so that communities, especially in poor and remote areas, can survive the crisis and thrive.

Asian Development Bank

Published

on

To say 2020 has been a challenging year is a massive understatement. The COVID-19 pandemic has quickly undermined development gains from recent decades and slowed growth in many Asian economies.

(more…)
Continue Reading

Banking

BoT sees mild impact of new COVID-19 wave on the economy

The Bank of Thailand (BoT) does not see the new wave of COVID-19 infections as having as much of an impact on the economy as the first wave, as fewer businesses have had to be suspended.

National News Bureau of Thailand

Published

on

BANGKOK (NNT) – Despite a new and wider wave of COVID-19 infections in the country, the Bank of Thailand (BoT) has assessed that the economic impact of the situation will not be as severe as the first wave as the effects of the virus are not as pronounced, and public health preparations, including plans for vaccination, are in place.

(more…)
Continue Reading

Latest

Most Viewed

Subscribe via Email

Enter your email address to subscribe and receive notifications of new posts by email.

Join 13,608 other subscribers

Trending