Publications

- November 1, 2019: Vol. 11, Number 10

To read this full article you need to be subscribed to Institutional Real Estate Asia Pacific

Tourism grows in Asia Pacific, but hotel occupancy declines

by Andrea Zander

United Nations World Tourism Organisation data shows international tourist arrivals rose by 4 percent year-over-year during the first half of 2019. Due to the US-China trade conflict, however, there are weaker economic indicators, which have affected business and consumer confidence, according to CBRE’s Marketview: Asia Pacific Hotels H1 2019.

Asia Pacific ranked second worldwide in terms of international tourism growth during first half 2019, with an increase of 6 percent year-over-year. Growth was driven by South Korea, which received a total of 8.4 million visitors during the period, representing year-over-year growth of 16.9 percent. China remains South Korea’s top tourism source markets, accounting for approximately 33.2 percent of total arrivals in first half 2019, representing 29 percent year-over-year.

Despite healthy visitor growth across Asia Pacific during first quarter 2019, occupancy stood at 70.3 percent for the 12 months ending July 2019, a

Forgot your username or password?

We use cookies and other tracking technologies to personalize your user experience on our site and perform site analytics. By clicking on “I accept”, you consent to our Privacy Policy.