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Asia is a key player in the movement of the world economy in favor of emerging market cities, according to the MasterCard Index of Global Destination Cities

The Index from MasterCard is a new approach to understanding the global economy and the dynamic flow of commerce across the world. It ranks cities by their total international visitor arrivals and the cross-border spending by these same visitors in the destination cities, and gives visitor and passenger growth forecasts for 2011.

The Index results show that many emerging market cities are showing robust growth with increases in both visitor arrivals and cross-border expenditures, with many showing growth rates exceeding 20%.

Cities in Asia Pacific led the charge globally having eight of the top twenty cities by international arrivals, with Bangkok ranked third, projected to have 11.5 million visitors this year, followed by Singapore in fourth rank with 11.4 million visitors and Hong Kong fifth with 10.9 million visitors.

“Property Values in Bangkok and Singapore in the hotel and travel sector are still well behind those in Hong Kong and there remains significant room for growth.” Shayne Heffernan of HCM said.

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Fitch Ratings have stated they see Thailand’s economic performance has proven surprisingly resilient to global economic volatility and domestic political instability in the past three years, although these remain risks and could constrain longer-term trends in growth and in the public finances. This was the key message at Fitch Ratings (Thailand)’s 10th anniversary annual conference in Bangkok in September.

Singapore has maintained its position as a member of the exclusive – and shrinking – club of economies with top credit ratings.

Standard & Poor’s (S&P) Ratings Services yesterday affirmed its AAA credit on Singapore’s long-term government debt and an A-1+ rating on its short-term debt.

Bangkok is now the third-most-popular destination among air travelers and comes fourth in terms of visitor spending.

About 11.5 million air travelers are expected to visit Bangkok and spend US$14.4 billion (Bt436 billion) this year.

However, contrary to the popular perception that most visitors to Thailand are thrifty backpackers, it is estimated that Bangkok’s expenditure per visitor is $1,252, which is ranked third globally after New York ($2,671) and London ($1,274).

Passenger traffic at Suvarnabhumi Airport rose 9 per cent in the first seven months of the 2011 fiscal year to 40 million, compared with the same period last year, according to Airports of Thailand.

In the October to April period, flight frequency also increased 11 per cent, to 258,457 flights.

Though May is the start of low season, passenger traffic jumped 39 per cent year on year, while flight frequency increased 13 per cent.

AOT told analysts at a meeting in June that double digit growth in air traffic was likely this year, so long as there was no serious political unrest.

Bangkok is ranked first among Asian cities based on the estimated number of international arrivals by air and the level of visitor expenditure this year, according to the findings of a study conducted by a leading credit-card company.

Beijing and Shanghai are ranked second and third regionally in terms of visitor growth, with growth rates estimated at 20.2% and 18.6% respectively, reflecting their rising attraction as China’s most important destination cities. Shanghai also ranks second in the region for growth in visitor expenditures with 24.3%.

Shayne Heffernan

Shayne Heffernan oversees the management of funds for institutions and high net worth individuals.

Shayne Heffernan holds a Ph.D. in Economics and brings with him over 25 years of trading experience in Asia and hands on experience in Venture Capital, he has been involved in several start ups that have seen market capitalization over $500m and 1 that reach a peak market cap of $15b. He has managed and overseen start ups in Mining, Shipping, Technology and Financial Services. www.livetradingnews.com

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For More Information Contact

Linda Johnson,
Business Development Director – Private Client Group,
Heffernan Capital Management
Sales@Heffcap.com

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