FRX General Chatter, page-2

Mastercard data shows strong resurgence of travel in Asia-Pacific

After two turbulent years, new research from the Mastercard Economics Institute reveals that for the first time since the pandemic, global leisure and business flight bookings surpassed pre-pandemic levels, while spending on cruise lines, buses and trains saw sharp improvements this year, signalling a key milestone in the global travel recovery.

Spanning 37 markets across the globe and nine markets in Asia Pacific, the Travel 2022: Trends and Transitions report delivers critical insights about the global state of travel in a less restricted, post-vaccine chapter of the Covid-19 pandemic era. The report compares the current state of global travel to two key inflection points: the pre-pandemic levels of 2019, and trends from the period when border restrictions began to ease and international travel resumed across most geographies.

Source:
https://www.ttgasia.com/2022/05/20/...-strong-resurgence-of-travel-in-asia-pacific/

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Consumer spending in Asia-Pacific remains strong, despite rising costs: Mastercard Economics Institute

The Mastercard Economics Institute’s Shifting Wallets: New consumer spending habits report looks at how consumers across the world are holding tight to habits that offer convenience, experience or both.

Asia-Pacific has seen a sharp recovery in outbound travel following the re-opening of borders, despite the growing cost of air travel. This is notable in markets like Singapore and Australia, with strong demand persisting even beyond the initial loosening of restrictions. Equally, spending on experiences is continuing to exceed spending on things, reflected in the spending patterns for experiences including dining out or entertainment. Asia-Pacific consumers are ordering from restaurants – both in-person or online – over making their own meals at home, with spending on restaurants up 16% in August 2022 from January 2022 levels, while grocery spending is down 5%.

Source:
https://www.ttgasia.com/2022/10/26/...-rising-costs-mastercard-economics-institute/