Ms Sun engaged in discussions with Mr Hun Manet, Prime Minister of Cambodia, and Mr Pham Minh Chinh, Prime Minister of Vietnam, to explore the immense growth potential of the tourism industry and exchange insights on its advancement.
Ms Sun's meetings with the Southeast Asian leaders focused on how Trip.com Group can support governments in driving tourism and contribute to the overall development of the travel industry. The tourism industry is a significant contributor to countries' GDPs – the World Travel & Tourism Council (WTTC) forecasts that it will grow to become a USD15.5 trillion industry by 2033, up by 50% from its 2019 value of USD10 trillion, and accounting for over 11.6% of the world's economy. With the expected growth, the sector is projected to employ approximately 430 million people globally by 2033, highlighting its substantial impact on job creation and the labour market.
Ms Sun and Prime Minister Hun Manet explored strategies on promoting Cambodia as a destination of choice to international tourists. This includes customising packages for Trip.com Group users, which cover everything from arrival to departure. They also discussed organising workshops to foster collaborations with local partners, co-developing new products and leveraging Trip.com Group's MICE offers and resources to promote "bleisure" travel to Cambodia. With 2024 being a significant year, Trip.com Group is committed to collaborating closely with the Cambodian government to embody the spirit of the Cambodia-China People-to-People Exchange.
Said Prime Minister Hun Manet: "I am pleased to have met Ms Sun and her team in Davos. The Cambodian government is setting 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 Kingdom – especially through cooperation with local partners.
Ms Jane Sun, CEO of Trip.com Group, said, "It was an honour to meet PM Hun Manet and discuss the exciting prospects for driving tourism in Cambodia. With Siem Reap-Angkor International Airport now offering enhanced accessibility and increased capacity, we eagerly anticipate close collaboration with the Cambodian government to customize special packages for our global users, enabling them to experience the country's rich heritage. Through our one-stop platform and innovative content marketing strategies, we are confident in our ability to promote and create immersive experiences for travellers in Cambodia. Together, we can unlock Cambodia's tourism industry's full potential and create unforgettable memories for visitors from all around the world."
Asia as a whole, and especially Southeast Asia, is an important growth engine for the global economy and Trip.com Group. Gross Merchandise Value (GMV) for Southeast Asia in 2023 almost tripled year-on-year (YoY), while booking volume also grew an impressive 260.6% across the same period. Interest in Cambodia has been strong, with the volume of searches for the kingdom last year showing a YoY increase of 150.3% and booking volume increasing 214.2% over the same period.
Phnom Penh was one of the top 10 most popular Southeast Asian destinations on Trip.com Group's platforms in 2023. The booking window for Cambodia-related bookings in 2023 was 6.1 days, comparable to 2022 (6.12) and 2019 (5.46), indicating that trips to Cambodia are relatively spontaneous. The average length of stay last year was 11 days, up from the 7 days in pre-pandemic 2019.
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Trip.com Group
Trip.com Group is a leading global travel service provider comprising of Trip.com, Ctrip, Skyscanner, and Qunar. Across its platforms, Trip.com Group helps travellers around the world make informed and cost-effective bookings for travel products and services and enables partners to connect their offerings with users through the aggregation of comprehensive travel-related content and resources, and an advanced transaction platform consisting of apps, websites and 24/7 customer service centres. Founded in 1999 and listed on NASDAQ in 2003 and HKEX in 2021, Trip.com Group has become one of the best-known travel groups in the world, with the mission "to pursue the perfect trip for a better world". Find out more about Trip.com Group here: group.trip.com.
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