Asians are Biggest Tourism Spenders

Asia-Pacific will overtake Europe as the region whose tourists spend the most money overseas within 10 years.

Spending by tourists from Asia-Pacific will reach nearly US$753 billion by 2023, increasing the region's share of global spend to 40 percent from 25 percent in 2012.

A study commissioned by travel technology firm Amadeus said travellers from Europe will account for 34 percent of global outbound spend by the same year, down from 45 percent in 2012.

"The findings underscore what most of us already intuitively know — that we have now truly arrived in the Asian century," Amadeus Asia Pacific President Angel Gallego said,

"No matter where we look, Asian travellers have and will continue to change the landscape of travel, and business must adapt to them or risk falling behind," he said.

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