TRAVELERS from the Asia-Pacific region are more conscious of foreign exchange rate fluctuations compared to their Western counterparts, according to a new study by data and services group Mastercard Economics Institute.
Its report, “Travel Trends 2025: Purpose-Driven Journeys,” analyzed 24 major tourism markets which account for nearly 80 percent of global gross domestic product.
Data showed that inbound tourism — particularly among travelers from Asia — tends to slow down when a destination’s currency depreciates.
“Travelers from Asia tend to be more sensitive to exchange rate shifts, as such movements can significantly affect their purchasing power during international travel — an element that features prominently in their outbound travel planning,” the study said, noting that it measured how a 1.0-percent depreciation in a destination’s currency against a tourist’s home currency affected inbound arrivals.
In the case of Japan, a 1.0-percent decline of the yen against the Chinese renminbi led to a 1.5-percent increase in tourist arrivals from China — the strongest response among any measured market.
By comparison, tourist arrivals from the United States and New Zealand rose by only 0.2 percent in the same condition.
A similar trend was observed in the US, where tourists from Taiwan, Singapore, South Korea and India responded more acutely to currency movements than travelers from France, the United Kingdom or New Zealand.
A 1.0-percent drop of the US dollar against these Asian currencies correlated with a 0.6-percent to 0.8-percent increase in tourist arrivals from those markets.
The report said exchange rates can play an outsized role in shaping travel decisions, especially in the Asia-Pacific region, where travelers are more value-conscious of purchasing power abroad.
Surge in PH visitors
Meanwhile, the report said inbound travel to the Philippines continues to rebound, benefiting from a surge in visitors from its top five tourism corridors — South Korea, the United States, Japan, Australia and Singapore.
There is a growing importance of Philippine destinations, not just among traditional inbound markets, but also among travelers from emerging segments, the study pointed out.
Manila ranked 9th among the most-visited destinations by Vietnamese tourists, while Cebu placed 12th for travelers flying in from Taiwan — reflecting the archipelago’s expanding regional appeal.
This recovery is happening amid a broader shift in travel behavior across the Asia-Pacific region, where tourists are increasingly seeking out experiences over checklists, said the report, which explained that, instead of traditional sightseeing, travelers are prioritizing local dining, nature immersion and wellness-oriented activities.
“Travelers are looking for deeper, more meaningful moments,” the report noted, adding that the trend toward “purpose-driven journeys” is defining how destinations position themselves.
