Peter de Jong

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Peter de Jong

• President CEO
• Pacific Asia Travel Association

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Significant Global Events
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Bali, Ground Zero, October 12, 2002
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Conflict in Iraq
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(No Transcript)
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Year-on-Year Change by monthJan-00 to June-03
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Why?

• Impossible to imagine
• State-of-Shock
• Unknown inter-dependencies
• Unknown players
• Unknown solutions
• Unknown longer-term effects
• Denial!

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The Impact!

• More than 17 million arrivals lost year to date
  in Asia pacific alone (-12)
• US12 billion lost in direct visitor expenditure
• Up to 11 million industry jobs lost
• China (PRC) 2.8 million front-line jobs gone
• US7.6 billion of GDP lost
• Much more if indirect effects are included

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The Scars!

• More nearby destination trips
• More domestic travel
• Less traditional air travel
• More no-frills air travel
• More car/bus trips within own destination
• Safety/security issues paramount

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Toothless Tigers?
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The Healing?
Hong Kong SAR, Y-o-Y Change, by Month, 2003
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But Not Uniform!
Bali, Indonesia, Y-o-Y Change, by Month, Aug-02
Jly-03
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Little Wonder
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The Young Asians

• Younger than Western Counterparts
• Saving less spending more
• Asian Boomers
• Buying homes, consumer durables, travel luxury
  goods
• The real thing
• 306 million now, up to 1.4 billion by 2020!

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The Next Generations