CNBC describes in a recent article that as the summer travel season approaches, Asia has emerged as the leading region for the top 15 up-and-coming travel destinations in 2024, according to a new report from the Mastercard Economics Institute. With Tokyo and Osaka at the forefront, the region is experiencing an impressive surge in international visitors, fueled by factors like the weakening Japanese yen and a growing demand for both well-known and off-the-beaten-path cities across the continent.

Tokyo and Osaka top the list, based on comparisons of summer flight bookings for 2024 and 2025. Tokyo, which ranked No. 2 last year, continues to draw strong interest, maintaining its position as one of the most visited cities globally.

Paris follows at No. 3, with a slight dip in traveler numbers due to the upcoming Summer Olympic Games. Shanghai ranks fourth, while Beijing, Seoul, and Singapore round out the top 10. Other destinations that made the list include Palma de Mallorca and Madrid in Spain, and Rio de Janeiro in Brazil. Interestingly, lesser-known cities such as Nha Trang in Vietnam and Fukuoka in Japan have also risen in popularity, taking the 11th and 13th spots, respectively.

The surge in travel to Asian cities is largely driven by tourists from Asia, Europe, and the US, the report noted. For Middle Eastern travelers, Thailand has become a more popular destination, with Bangkok and Phuket seeing a notable increase in flight bookings.

Tokyo emerged as the most visited city globally in 2024, fueled by the weakening Japanese yen, which hit its lowest value against the US dollar since 1986. Although the yen has slightly rebounded, currency fluctuations continue to be a key factor attracting visitors, especially from Asian countries. The report highlighted that currency shifts impact Asian travelers more significantly than other regions.

The report also highlighted a notable increase in travel to Saudi Arabia, particularly to Jeddah and Riyadh, driven by the government’s economic diversification efforts. Conversely, international visits to the US have decreased, especially from Canada, with foreign air arrivals dropping nearly 5 per cent in February 2024. Despite this, the US still sees substantial foreign spending, totaling $215 billion in 2024. However, a decline in foreign visitors could notably impact the tourism and education sectors.

“The report shows that economic and political factors are increasingly shaping travel preferences ahead of the summer season,” the Mastercard Economics Institute noted.

By Naila Huseynova

Source: caliber.az