United Nations World Tourism Organization (UNWTO) data shows international tourist arrivals rose by 4 percent year-over-year during the first half of 2019. However, due to the U.S.-China trade conflict, there are weaker economic indicators, which have affected business and consumer confidence, reported CBRE.
Asia Pacific ranked second worldwide in terms of international tourism growth during the first half 2019, reporting an increase of 6 percent year-over-year. Growth was driven by Korea, which received a total of 8.4 million visitors during the period, representing growth of 16.9 percent year-over-year. China remains of Korea’s top tourism source markets, accounting for approximately 33.2 percent of total arrivals in the first half of 2019, representing 29 percent year-over-year.
Despite healthy visitor growth across Asia Pacific during the first quarter 2019, occupancy stood at 70.3 percent for the 12 months ending July 2019, a slight decline of 0.4 percentage poi
