17 May '11, 2pm

Air travel demand in Asia Pacific expected to soften

Air travel demand in Asia Pacific expected to soften

SINGAPORE : Air travel demand in Asia Pacific is expected to soften in the months ahead. Analysts expect a drop of between 1 and 2 per cent on-month for May, due to Japan which is still reeling from its recent disaster. This came after industry body International Air Transport Association (IATA) reported a drop of 2 per cent in March. Japan's travel industry is worth US$65 billion with 94 million travellers, and accounts for 10 per cent of the global travel market. Analysts said Indonesia, Thailand, Vietnam and Malaysia are expected to pick up the slack in travel demand, going forward. This is due to their large populations and strong economies, which have been driving up both leisure and business travel. There's yet another upside in South Korea. "There is strong business sentiment in Korea, especially, because they want to attract more foreign MNCs away from Japan, which...

Full article: http://www.channelnewsasia.com/stories/singaporebusinessn...

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