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SINGAPORE : Tourism revenues in the Asia Pacific are forecast to top US$4.6 trillion by 2010 with visitor arrivals hitting 500 million, according to the Pacific Asia Travel Association.
It says growing Asian economies and liberalisation in the aviation sector means intra-regional travels will account for much of the rising numbers.
The upcoming Beijing Olympics is also seen as a strong boost for the industry.
And there is no stopping the Asian travel bug.
Despite concerns over the impact of an anticipated slowdown in the United States, the Pacific Asia Travel Association is forecasting the tourism industry in the region to grow by an average annual rate of seven to eight percent over the next two years.
Two-thirds of all international arrivals in the Asia Pacific are generated from within the region.
Mr John Koldowski, Director of Strategic Intelligence Centre at the Pacific Asia Travel Association, said: "People start to postpone their trips to relatively more expensive destinations like Europe, and say, "Well, we want to go somewhere. Where's a good option?" And all of a sudden, Asia, because of its price advantage, irrespective of the strength of the dollar, still becomes very appealing."
The association noted that governments across the region are also seeking higher tourist arrivals.
Singapore has been aggressive on this front, with new tourist attractions gearing up.
Mr Koldowski added: "This is where your integrated resorts are going to have a major impact as well, events and so forth. All of these combine into making the destination attractive, attracting the right kind of traveller, and keeping them here by giving them more to see, do and experience."
By 2010, international tourist arrivals to the Asia Pacific are expected to hit nearly half a billion - almost double the figure in 2000. - CNA/de
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