ISLAMABAD: According to the United Nations World Tourism Organization (WTO), Asia-Pacific recorded 517 foreign direct investment projects in the tourism sector between 2018 and 2022, amounting to $65.1 billion in capital investment. More than 105,600 jobs were created.
The number of projects announced in the region rose by 2.4% after falling in 2020 and 2021, according to the ‘Tourism Investment 2023’ report, released on World Tourism Day, which was celebrated on Wednesday.
The number of projects decreased slightly to 42 projects in 2023. It will increase in 2022. 4,444 4,444 Job creation in the region peaked in 2018 with over 49,000 jobs created but reached its lowest in 2021 with around 4,300 jobs created through foreign direct investment in tourism. The standard has fallen.
The number of jobs created by tourism-related investments increased by 6% from 2021 to 2022. China recorded the highest number of tourism direct investment projects from 2018 to 2022, accepting 79 projects announced, accounting for 15% of the region’s total market share.
China reached a peak in foreign direct investment in the tourism sector in 2019, with 30 tourism projects announced, but the number of new projects has steadily declined since then. India became the top destination in the region last year, attracting three times more tourism FDI projects in 2022 than in 2021.
Foreign investors announced 2,415 foreign direct investment (FDI) projects in tourism clusters between 2018 and 2022.
These projects involved a total capital investment of $175.5 billion and created an estimated 388,000 jobs.
The number of greenfield foreign direct investment (FDI) projects in tourism clusters will increase in 2022 after recording declines in 2020 and 2021 as international travel recovers from the coronavirus pandemic.
He slowly recovered The number of FDI projects and job creation in the tourism cluster increased by 23%, from 286 investments in 2021 to 352 in 2022. Tourism FDI job creation increased by 23% over this period and was estimated at 36,400 jobs in 2022.
Among the foreign direct investment regions most affected by the coronavirus pandemic, tourism took a long time to recover from the initial shock of 2020, with the number of projects in this sector decreasing by 59% compared to the last time there were 312 cases Year.
Capital spending in the sector also fell by 70%, with estimated capital spending falling from $60.9 billion to $18.2 billion.
From 2018 to 2022, the United States was the largest recipient of foreign tourism investment with 198 projects, followed by the United Kingdom (160), Spain (133) and Germany (133).
The ten most attractive countries for foreign direct investment in tourism accounted for almost half (47%) of all tourism projects announced worldwide from 2018 to 2022.
Capital investment in this sector totaled $175.5 billion between 2018 and 2022, with Spain being the most significant destination ($19.4 billion). Followed by China ($11.5 billion) and the Philippines ($11.1 billion).
Mexico received the most foreign direct investment in tourism from 2018 to 2022, creating an estimated 31,000 jobs, followed by China (22,130) and Spain (20,590).
.
The hotel and tourism sector accounted for almost two-thirds of all projects in the tourism cluster from 2018 to 2022. The number of foreign direct investment (FDI) projects increased by 25% from 2021 to 2022.
However, capital investment in the hotel and tourism sector declined from $48.9 billion in 2018 to $7.8 billion in 2022.
From 2018 to 2022, the accommodation sector remained the largest subsector of foreign direct investment in the tourism sector worldwide, accounting for more than half (51%) of all FDI projects.
More than 70 percent of capital investment ($126.8 billion) and job creation (270,000 people) in the tourism cluster came from the lodging subsector.
Our Featured Article:
Read More: Sindh Trying to Promote Local Tourism
Don’t miss the chance to invest with Lakeshore! Secure your investment today by investing your financial investment with Lakeshore in the following available options like Lakeshore City, Lakeshore Club, and Lakeshore Farms.
For More updates, please Contact +92 335 7775253 or visit our website https://lakeshorecity.com/
Lakeshore City is the upcoming elite lifestyle at Khanpur Dam. Offering no parallel amenities for the members and owners of distinguished farmhouses.
Become Part of Luxurious Lifestyle
Contact: 0335 7775253
