4 favourite destinations for leisure tourism in Asia Pacific: Mastercard survey

4 favourite destinations for leisure tourism in Asia Pacific: Mastercard survey

By: 
Michelle Zhu
20/06/18, 12:36 pm

SINGAPORE (June 20): Mastercard has released findings from its 2018 Global Destination Cities Index (GDCI): Play study, which measures international destinations with the highest concentration of visitors traveling for relaxation and leisure, instead of business.

Among the survey’s results were the top cities in Asia Pacific where over 90% of overnight visitor travel in 2017 was for purposes beyond business, such as for vacations or family visits.

Bali, Indonesia, tops Mastercard’s regional list, with 96.7% of study participants traveling to the city for leisure purposes. This is followed by Phuket in Thailand, Kuala Lumpur in Malaysia, and Osaka, Japan, at 93%, 92.2%, and 90.8% respectively.

In a Wednesday release, the global payments company highlights these cities as destinations with unique cultures, but with a common focus on relaxation and fun.

It also credits the phenomenon of international travel’s “incredible growth rate” to factors such as affordable air fares and higher living standards, which in turn helps to transform local economies and enable people to broaden their horizons.

Additional insights from the 2018 Mastercard Global Destination Cities Index will be released later this year, says Mastercard.

Genocide can't be good for business

SINGAPORE (Nov 19): It was only three years ago, after the watershed elections in November 2015 that saw Aung San Suu Kyi transition from democracy icon under house arrest to Myanmar’s State Counsellor and de facto leader, that Myanmar began to emerge from years of economic isolation. In 2016, the US lifted some of its economic sanctions; in 2017, there were 3.44 million tourist arrivals into the country, 18% more than the year before. Meanwhile, the Myanmar government has made considerable effort to entice foreign direct investment and spur local enterprise. It has passed new laws to mak....
Read More >>

Noble gets go-ahead for controversial restructuring plan, pays funds into court in ongoing legal suit

SINGAPORE (Nov 19): Troubled commodities trader Noble Group is moving ahead with a controversial restructuring plan that will see its investors’ shareholding significantly diluted and its creditors owning most of the company. Meanwhile, a former employee whom it sued for conspiracy to injure the company by unlawful means is expecting to be vindicated and compensated for his legal costs. On Nov 15, Noble said its restructuring plan had been sanctioned by the relevant courts and would proceed. According to its indicative timetable, the last date for trading in its shares is Nov 16....
Read More >>

Looking beyond quarterly fluctuations in ST Engineering's growth story

SINGAPORE (Nov 17): ST Engineering’s latest third-quarter results have shown improvements in profitability in three of its four key business units of aerospace, electronics, land systems and marine. In addition to the main four, there is an “others” unit, which lumps together shared services, new ventures and other related activities. It reported a loss of $7.3 million. ST Engineering’s latest third-quarter results have shown improvements in profitability in almost all its business units. The marine unit, on the other hand, suffered a 35% y-o-y drop in earnings to $12.8 millio....
Read More >>
BMW charges up an 'electrified future'

Christopher Wehner, managing director of BMW Group Asia, explains how electric cars such as the BMW