Report adds insights into purpose of travel and
local spend
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Bangkok is the top-ranked destination city by international
overnight visitor arrivals according to the annual Mastercard
Global Destinations Cities Index released today.
The Index provides more than a ranking of the 132 most visited
cities around the world. It projects visitor volume and spend
estimates for the 2016 calendar year, while delivering a deeper
understanding of how people travel and spend around the world. As
cross-border travel and spending continue to grow at a faster pace
than the world GDP, the world’s cities continue to be engines of
broader economic growth.
According to the study, Bangkok is projected to receive 21.47
million international overnight visitors in 2016, just ahead of
second-ranked London. Forecasted international overnight visitors
to the rest of the top 10 cities include:
• London – 19.88 million visitors
• Kuala Lumpur – 12.02 million
visitors
• Paris – 18.03 million visitors
• Istanbul – 11.95 million visitors
• Dubai – 15.27 million visitors
• Tokyo – 11.70 million visitors
• New York – 12.75 million visitors
• Seoul – 10.20 million visitors
• Singapore – 12.11 million visitors
The biggest surprise in this year’s Index is Dubai’s jump to the
top rank based on international visitor spending of US$31.3
billion, far exceeding the second ranked London estimated at
US$19.8 billion.
“The way people travel and spend across borders indicates just
how interconnected and important the world’s cities are,” said Ann
Cairns, President of International Markets, Mastercard. “As the
planning and experience of the trip become increasingly important,
Mastercard is bringing all these pieces together seamlessly through
innovation and connections."
Fastest Growing Destination Cities Ranking
The difference between the global top 10 and the fastest growing
top 10 destination cities suggests that Asia Pacific and the Middle
East and Africa have become increasingly important to the global
economic landscape. Many cities measured on the Index have
increasing growth trajectories, indicating the growing interest in
both visiting and living in cities.
Osaka has shown the strongest growth in international visitors
(24.15 percent) over the last seven years. Other cities that made
the forecasted top 10 fastest growing cities include:
• Chengdu – 20.14 percent
• Taipei – 14.53 percent
• Abu Dhabi – 19.81 percent
• Xi’an – 14.20 percent
• Colombo – 19.57 percent
• Tehran – 12.98 percent
• Tokyo – 18.48 percent
• Xiamen – 12.93 percent
• Riyadh – 16.45 percent
New Insights into Purpose of Travel and Local Spend
For the first time, the Index explores whether visitors travel
for business or leisure as well as insights into how international
visitors spend, including dining, lodging and shopping. The 2016
Index shows that among the top 20 cities, more people travel
internationally for leisure, except to Shanghai. Visitors to the
top 20 overwhelmingly spent more while shopping, as opposed to
dining, except in Europe, where meals captured greater share of
spend in Amsterdam, Barcelona, Istanbul, Milan, Paris, Prague and
Vienna.
Identifying Regional Trends
The Index provides insight into top destination cities in each
region, including:
- Asia Pacific – The region
dominates both the global top 10 (five cities) and Top 10 fastest
growing destination cities (seven cities).
- Europe – London, ranked second
globally and first in the region, is the top feeder city in terms
of visitor and spending volume for all other cities that round out
the top European destinations: Paris, Istanbul, Barcelona and
Amsterdam.
- Latin America – Lima is both the
top destination and fastest growing city in the region, with 4.03
million visitors (ranked 32nd globally) and a growth rate of 9.9
percent (ranked 15th globally). However, the rankings are very
different in terms of overnight visitor spend; Punta Cana leads the
region with US$2.95 billion followed by Mexico City (US$2.27
billion).
- Middle East and Africa – Dubai
is the top ranked destination city in the region (ranked fourth
globally), while Abu Dhabi is the fastest growing in the region
with a growth rate of 19.81 percent. This marks the United Arab
Emirates as both the most visited and fastest growing country in
the region for the second year in a row.
- North America – New York, ranked
fifth globally, is the top destination city in the region. It
significantly surpasses the rest of the region in overnight visitor
spend at US$18.25 billion. Nearly 90 percent of New York’s
international visitors are from outside North America, led by
London, Paris, Sao Paulo, Toronto and Beijing.
Mastercard understands the significant role that cities play as
centers of commerce, reflected in efforts to deliver technologies
that provide greater efficiencies and convenience for governments
and people. One example is the broad adoption of contactless
payments by transit systems like London and Chicago. The insights
from this report can also help airlines, hotels and other merchants
create smarter, more relevant and customized experiences for their
customers.
Download the full report here: http://mstr.cd/2cR4Sp8
About the Mastercard Global Destination Cities Index
The Mastercard Index of Global Destination Cities ranks cities
in terms of the number of their total international overnight
visitor arrivals and the cross-border spending by these same
visitors in the destination cities, and gives visitor and passenger
growth forecasts for 2016.
Public data is used in deriving the international overnight
visitor arrivals and their cross-border spending in each of the 132
destination cities, using custom-made algorithms; paying special
attention to eliminate the hub effects for destination cities such
as Singapore, Dubai, Amsterdam and Frankfurt.
This Index and the accompanying reports are not based on
Mastercard volumes or transactional data.
About Mastercard
Mastercard (NYSE:MA), www.mastercard.com, is a technology
company in the global payments industry. We operate the world’s
fastest payments processing network, connecting consumers,
financial institutions, merchants, governments and businesses in
more than 210 countries and territories. Mastercard products and
solutions make everyday commerce activities – such as shopping,
traveling, running a business and managing finances – easier, more
secure and more efficient for everyone. Follow us on Twitter
@MastercardNews, join the discussion on the Beyond the Transaction
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Bureau.
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version on businesswire.com: http://www.businesswire.com/news/home/20160921006497/en/
Mastercard Communications:Ryan Erenhouse,
914-249-3176ryan.erenhouse@mastercard.com
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