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Tokyo enters the list of top global RevPAR growth markets, highlighting Japan’s economic revival and increasing popularity among international tourists. – Image Credit Unsplash
- According to STR’s latest update, 77% of international markets witnessed year-on-year growth in hotel revenue per available room (RevPAR).
- Tokyo enters the list of top global RevPAR growth markets, highlighting Japan’s economic revival and increasing popularity among international tourists.
The latest STR global update reveals that 77% of international markets have seen year-on-year growth in hotel revenue per available room (RevPAR), marking a significant 14-point increase from the previous month.
The top five countries for RevPAR were Greece, Singapore, Italy, France, and Switzerland. Despite positive growth in Singapore, most Asia Pacific markets reported lower RevPAR due to reduced average daily rates (ADR).
On a global scale, Egypt emerged as the leader in annualized RevPAR growth (+42%) followed by Turkey (+36%), both driven by ADR. However, their development is influenced by ongoing inflation and currency devaluation.
Japan, Singapore, and Brazil led the RevPAR growth by disregarding currency pressures. Of 45 reported nations, 15 recorded double-digit RevPAR growth in the last four weeks.
The Red Sea Resorts, Turkish Riviera, Istanbul, Mexico City, and Tokyo saw top market-level RevPAR growth growth.
Tokyo’s inclusion in this list highlights its economic recovery and growing appeal among international travelers due to its affordability and favorable exchange rates.
Conversely, China and New Zealand markets are grappling with long-term economic challenges.
