Latest MasterIndex of Travel Forecasts Double-Digit Year-on-Year Growth in Outbound Travel for the Second Half of 2006

Asia Pacific markets will continue to witness steady growth in outbound travelers, led by a significant increase in travelers from China and Malaysia according to the results of MasterIndex of Travel report released by MasterCard Worldwide today.

The forecast revealed that outbound travel for Hong Kong is predicted to show a significant jump in year-on-year growth from a less-optimistic 3% forecasted six months ago to an impressive 15 %. Both Malaysia and China are likely to follow close behind with double-digit year-on-year growth at 12.5%.

“The continuing strength in the growth of outbound travel in Asia Pacific further reinforces our view that personal travel is being entrenched as an integral part of the lifestyles of the expanding middle class in the region,” said Dr. Yuwa Hedrick-Wong, economic advisor to MasterCard Worldwide in Asia Pacific.

Malaysia is forecasted to continue to take the lead in the number of outbound travelers. Some 22.07 million Malaysians are expected to travel overseas in the months ahead. Key markets that would benefit from the continued increase in Malaysians travelling overseas would include Singapore, China, Indonesia and Japan. Forecasted to follow closely is China, with some 18.96 million outbound travelers expected to most likely visit Europe, Australia, Hong Kong, Canada, USA and Japan for personal travel and Hong Kong, Singapore and Japan for business travel.

The following chart shows the MasterIndex of Travel forecast for outbound travel for the second half of 2006.

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