The Asia Pacific travel market experienced a spectacular resurgence in 2023, with total travel gross bookings surging by 48% – the highest growth rate across all regions – reaching $395.8 billion. With 2024 ushering in a new era of completely unrestricted travel, the region is poised to surpass its pre-pandemic travel market size – a milestone that North America and Europe hit in 2022 and 2023, respectively. According to Phocuswright research report Asia Pacific Travel Market Report 2023-2027
, between 2024 and 2027, the market is forecasted to grow at a 7% CAGR, reaching $555.4 billion, largely driven by the recovery in China and the rapid expansion of India’s travel sector.
