SOURCE: Business Review Australia

Business Review Australia

December 20, 2011 21:27 ET

While the Rest of the World Continues to Recover From Decreased Tourism, One Region's Travel Market Is on the Rise -- and Struggling to Keep Up With the Demand

SAN DIEGO, CA--(Marketwire - Dec 20, 2011) - "They can't build properties fast enough or grow fast enough," Douglas Quinby, Senior Director of Research for travel industry research consultancy PhoCusWright, said earlier this year about the booming Asia Pacific tourism industry. "The hotel markets in China and India had been largely constrained, so there has been an extraordinary amount of investments in those markets."

Encompassing a diverse collection of countries throughout Oceania, Asia and India, Asia Pacific has enjoyed the fastest growth in the travel market over the last year, and they're poised to continue this growth into 2012.

According to projections released by the research company, the Australia-New Zealand region's hotel booking revenue is expected to grow by six per cent by this year's end and another five per cent next year, while the Asian region's booking revenues will continue to skyrocket by 14-18 per cent into the new year.

The biggest winners of this upswing: luxury hotels.

Continue reading this story and many more in the December issue of Business Review Australia:

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