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2023 Economic Outlook for Southeast Asia, China and India 2023

Reviving Tourism Post-Pandemic

image of Economic Outlook for Southeast Asia, China and India 2023

The Economic Outlook for Southeast Asia, China and India is a regular publication on regional economic growth and development in Emerging Asia – Brunei Darussalam, Cambodia, Indonesia, Lao PDR, Malaysia, Myanmar, the Philippines, Singapore, Thailand and Viet Nam, as well as China and India. It comprises three parts: a regional economic monitor, special thematic chapters addressing a major issue facing the region, and a series of country notes.

The 2023 edition discusses the region’s economic outlook and macroeconomic challenges at a time of great uncertainty and a slowdown of the global economy, in particular owing to inflationary pressures, capital flow volatility and supply-side bottlenecks. The thematic chapters focus on reviving tourism after the pandemic. Tourism was among the sectors most affected by both the COVID-19 pandemic and responses to it. The report highlights the economic impact of tourism in the region and explores how the sector can be reshaped to regain its significant role in Emerging Asia. The interruption of tourism allowed countries in the region to consider reforms in the sector, including diversifying tourism markets and addressing labour market challenges, while catering to the new needs and preferences of the post-pandemic world, prioritising sustainable and environmentally responsible activities, and accelerating digitalisation.

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Post-pandemic travel and tourism in Emerging Asia: Adaptation, recovery and challenges

Tourism is a major component of Emerging Asian economies, and the sector is beginning to rebound as the restrictions implemented in response to the COVID-19 pandemic have been lifted. However, the interruption of tourism allowed countries in the region to consider reforms in the sector, including diversifying inbound travel markets, promoting domestic tourism and addressing labour market challenges. Many enterprises, in particular MSMEs, require assistance in digitalising their operations and human capital must improve to enhance productivity. Furthermore, protecting vulnerable workers and making tourism jobs attractive to address labour shortages are essential. There is also a need to adapt to new travel preferences. In addition to local travel and rediscovery, lockdowns and focus on illness prevention reinvigorated desires for nature-based tourism or experiences focused on health and wellness.

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