When will Asia’s travel industry recover? Maybe as soon as 2023

A new report indicates the travel industry in Asia-Pacific may be the only one in the world to recover by 2023.

This year’s “Travel & Tourism Economic Impact” report — an annual publication by the London-based World Travel & Tourism Council — shows that, compared with pre-pandemic levels, tourism revenue in 2020 dropped more in Asia-Pacific (59%) than anywhere else.

Recovery efforts in the region were muted in 2021, with most countries there maintaining strict border restrictions. Tourism revenue’s contribution to regional gross domestic product rose about 16%, lower than the 28% in Europe and 23% in North America.

However, the report shows Asia-Pacific is expected to close the gap this year, with the amount of travel revenue contributing to the overall economy forecast to grow by 71%.

Travel in Asia-Pacific is soaring this year — restrictions were first eased in India and…