“The tourism industry is forecast to maintain steady growth up to 2022, driven by the rise of middle and upper classes in emerging economies, as well as the development of new destinations,” indicated Vandesquille.
He further forecasted that Japan is to experience growth in the number of international tourists at a compound annual growth rate (CAGR) of 11,3 percent, the largest increase among the countries observed.
This growth can be attributed to the overall success of the 2019 Rugby World Cup and the positive impact of the Olympics, which are being held in Tokyo this year. These events have helped the development of tourism infrastructure and will increase the visibility of the destination in the near future.
France is expected to remain the most visited country in the world with 99,6 million tourists in 2022, but more than a year of civil unrest and the potential impact of Brexit (the UK being its main source market) will slow tourism growth and the country may fall short of its objective of 100 million visitors, originally set for 2020.
Diplomatic tensions are the main obstacle to international growth, as illustrated by South Korea and China, which are both currently experiencing issues with their main source markets.
However, these tensions seem to benefit Vietnam, the fastest growing tourism market in South-East Asia, which is expected to capitalize on the overall popularity of the region and the projected exponential development of South Korean outbound tourism.