Wednesday, January 24, 2024
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During the World Economic Forum (WEF) in Davos, Ms. Jane Sun, the CEO of Trip.com Group, held private discussions with key leaders from Southeast Asian nations. In discussions with Prime Minister Hun Manet of Cambodia and Prime Minister Pham Minh Chinh of Vietnam, Ms. Sun delved into the substantial growth prospects of the tourism sector and provided perspectives on its advancement.
The meetings focused on how Trip.com Group could assist governments in boosting tourism and contributing to the overall development of the travel sector. The tourism industry plays a crucial role in countries’ GDPs, with forecasts from the World Travel & Tourism Council (WTTC) predicting it to grow into a USD 15.5 trillion industry by 2033, representing a 50% increase from its 2019 value of USD 10 trillion and accounting for over 11.6% of the world’s economy. This expected growth is projected to create approximately 430 million jobs globally by 2033, underscoring its substantial impact on job creation and the labor market.
Ms. Sun and Prime Minister Hun Manet discussed strategies to promote Cambodia as a preferred destination for international tourists. This involved tailoring packages for Trip.com Group users, covering everything from arrival to departure. Additionally, they explored the possibility of organizing workshops to foster collaborations with local partners, co-developing new products, and utilizing Trip.com Group’s MICE offers and resources to promote “bleisure” travel to Cambodia. With 2024 being a significant year, Trip.com Group is dedicated to close collaboration with the Cambodian government to embody the spirit of the Cambodia-China People-to-People Exchange.
Prime Minister Hun Manet expressed his satisfaction with the meeting, stating, “I am pleased to have met Ms. Sun and her team in Davos. The Cambodian government is formulating policies to promote the growth of the tourism industry in a post-pandemic world, and we welcome Trip.com Group’s plans to expand its business in the realm of possibilities, it was truly a privilege to engage with Prime Minister Hun Manet and delve into the promising avenues for catalyzing tourism in Cambodia, as expressed by Ms. Jane Sun, the dynamic CEO of Trip.com Group. As Siem Reap-Angkor International Airport opens up new horizons with enhanced accessibility and expanded capacity, we eagerly look forward to a synergistic alliance with the Cambodian government. Our vision encompasses tailoring bespoke packages for our global users, offering them an immersive experience of Cambodia’s rich heritage. Armed with our comprehensive platform and cutting-edge content marketing strategies, we are poised with confidence to not just promote but craft unforgettable journeys for global travelers in Cambodia. Together, we aspire to unlock the full potential of Cambodia’s tourism industry and etch indelible memories for visitors from every corner of the globe.
In the dynamic landscape of global economic growth, particularly in Southeast Asia, Trip.com Group stands as a pivotal force. The year 2023 witnessed an astounding threefold increase in the Gross Merchandise Value (GMV) for Southeast Asia, coupled with a remarkable surge of 260.6% in booking volume during the same period. Cambodia, in particular, captured substantial interest, evidenced by a staggering YoY surge of 150.3% in searches last year and a concurrent 214.2% surge in booking volume.
The allure of Phnom Penh solidified its position as one of the top 10 sought-after destinations on Trip.com Group’s platforms in 2023. The booking dynamics for Cambodia in 2023, with a window of 6.1 days, mirrored the spontaneity observed in 2022 (6.12) and 2019 (5.46). This trend suggests that trips to Cambodia are characterized by a delightful impromptu spirit. Furthermore, the average length of stay in the preceding year extended to 11 days, marking a significant increase from the pre-pandemic duration of 7 days in 2019.