Strong economies and Asia’s increasing wealth has resulted in the rise of an affluent middle class. The travel industry has been a clear beneficiary: Asia is now a travel powerhouse. Today, China is the largest travel market globally and by 2020 two in every five travelers will be Asian.
Along with its increased wealth, Asia’s capability to innovate has accelerated and will push digital transformation in the travel industry forward. The region is already ahead in several critical factors that support tech advancement. Four out of the top 10 countries boasting the fastest fixed broadband internet speeds globally are in Asia. South Korea is leading the charge with the highest average connection speed in the world, followed closely by Hong Kong, Singapore and Japan.
Meanwhile, China is leading the push for 5G mobile technology, and is shaping up to have the biggest 5G market by 2022. By 2025, China will account for more than 40% of the world’s 5G connections. Companies in Asia are also truly “mobile-first”, developing for mobile before they think about desktop.
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