In this article, we shall discuss the 25 most amazing countries in Asia. To skip our detailed analysis of the global tourism industry in 2024, go directly and see 10 Most Amazing Countries in Asia.
Travel Industry Outlook: Key Trends
The global travel industry has always managed to stay afloat, even in times of immense financial anxiety and turbulence. This has partly been due to an increased enthusiasm for in-destination activities, peaking interest in more diverse destinations like some of the most amazing countries in Asia, and the influx of baby boomers in great numbers into the travel market. However, despite this historically optimistic outlook, the impending economic downturn is slated to massively impact sentiments around tourism across the globe. The report projects that the frequency and optimism around travel may see a consistent decline; however, if higher-income groups remain insulated from economic headwinds in 2024, higher-end travel products could post better returns than budget products. In the corporate arena, the report posits that key stakeholders will aspire to an intricate balance between conservative budgeting and strategic tailwinds.
According to a report by Deloitte, top players in the travel industry like Booking Holdings Inc. (NASDAQ:BKNG), Airbnb Inc. (NASDAQ:ABNB), and Expedia Group Inc. (NASDAQ:EXPE) are likely to be influenced by three key trends in 2024, the first of them being the fact that skyrocketing interest rates and increased costs of certain goods have made it more difficult for hotel companies to upgrade hotels. Airlines have also been negatively impacted by unforeseen weather conditions and staffing concerns. Hence, top airlines and hospitality providers are diverting greater investments into improving consumer experience in fear of losing out on tourists’ attention. To read more on how hospitality providers are navigating the current macroeconomic currents, check out our coverage of the 25 Most Luxurious Hotels in the World. Secondly, although the return of corporate travel is not going anywhere for the foreseeable future, gains are on a steady decline. Companies still feel that travel to build relationships with clients and support team collaborations are integral to the holistic success of any business endeavor, the rising costs of travel can no longer be shrugged off. Despite these concerns, US corporate travel spending is still projected to exceed pre-pandemic levels by the end of 2024. Lastly, generative AI is a huge influencer with respect to travel. The most widely reported benefit of gen AI remains with respect to call-centers and customer support. In 2024, gen AI is expected to impact the global travel industry in unprecedented ways. From advertising strategies to marketing personalization, gen AI is widely perceived to be the future of travel, especially in some of the most amazing countries in Asia.
Travel in the Digital Age: An Analysis
As the world shifts towards digitally-enabled travel, innovations and advancements in artificial intelligence, machine learning, and AR/VR are reinvigorating tourism as we know it. These advances in technology have also brought about enormous shifts in customer expectations, causing major players in the travel industry like Booking Holdings Inc. (NASDAQ:BKNG), Airbnb Inc. (NASDAQ:ABNB), and Expedia Group Inc. (NASDAQ:EXPE) to rethink and revaluate their engagement with consumers, development of new products and services, and management of day-to-day operations in some of the most amazing countries in Asia. According to a report by McKinsey, the average time spent on digital devices has skyrocketed by more than 70% since 2013, with the trend accelerating during the 2019-21 time period when online interactions replaced person-to-person contact during the heyday of the pandemic. With traditional travel still being primarily a human-centric enterprise, major travel companies have a golden opportunity to capitalize upon the global digital transition in a bid to redefine travel in the internet age.
One of the primary ways this can be achieved is to effectively accumulate, process, and interpret the vast amounts of consumer data which is now available to travel companies, with newer technologies like AI-powered assistants only exacerbating this trend. However, it is true that oft times, consumer data can get incredibly complicated to process and does not always paint an accurate portrait of the consumer and his/her preferences. In an effort to optimize interpretation of consumer data, companies have started to acquire the services of third-party sources in order to attain a more holistic understanding by distilling commercial, operation, financial and behavioral inputs. Furthermore, companies are also diverting greater investments into creating consumer segments to guide their engagement with different kinds of consumers in many of the most amazing countries in Asia. This segmentation tends to rely on the analytics capacity in hand and can range from segmentation based on single macro characteristics to hyper-segmentation. Hyper-personalization is also an excellent alternative for companies to rebuild trust in case of operational inefficiencies. Personalized communication tends to reassure the consumer that their preferences are at the very top of the company’s agenda and that an effective recovery plan is in the works to best address their concerns. For instance, some companies tend to share real-time status updates during service disruptions or provide personalized prescriptions to the consumers’ complaints, or may even undertake proactive compensation to ensure that customers feel that they are in good hands. To read more on how artificial intelligence is influencing the travel industry in 2024, check out our coverage of the 30 Most Affordable Winter Vacations in the US.
Photo by Hilmi Can Taşkıran on Unsplash
Travel in Asian Economies: An Overview
Travel and tourism is a significant contributor to employment and growth in Asian economies, with a burgeoning middle-class, swift visa approvals, and enhanced digital connectivity leading to the market accounting for more than 9.8% of the regions GDP as of 2023. In countries like Cambodia, Thailand, and the Philippines, travel tends to account for more than 20% of the state economy. The industry suffered enormous setbacks during the COVID-19 pandemic, with local travelers preferring domestic travel options. However, successful containment of the pandemic and vaccine proliferation in some of the most amazing countries in Asia has led to a strong rebound, with major players like Booking Holdings Inc. (NASDAQ:BKNG), Airbnb Inc. (NASDAQ:ABNB), and Expedia Group Inc. (NASDAQ:EXPE) investing in enhancing their footprints in the region.
As the region’s travel sector posts strong growth with demands of outbound flights set to meet pre-pandemic levels by the end of 2024, experts are predicting that the Chinese boom will soon supplement this growth in times to come. According to a report by CNBC, the region’s travel demand skyrocketed to 83% of pre-pandemic levels as of December 2023, with Chinese tourists ramping up visits to the Southeast-Asian belts within the wider region. According to a report by Citigroup, the US, UK South Korea, Japan and Australia are slated to be some of the most popular holiday destinations of Chinese tourists in 2024. They are also likely to visit some of the most amazing countries in Asia like Thailand, which welcomed more the highest number of Chinese tourists in 2023. Singapore follows close behind, with the number of flights booked from China surging more than six times in 2023.
Our Methodology
To compile our list of the 25 most amazing countries in Asia, we decided to undertake a consensus-based approach using a diverse variety of credible sources (1, 2, 3, 4, 5). We then shortlisted more than 40 countries which appeared most frequently during our research. Since how amazing a particular country is is an incredibly multifaceted and complex phenomenon, we established a three-pronged criteria; the criteria is premised on each country’s natural beauty (20 points), cultural heritage (15 points), and safety (10 points). We then proceeded to award each country a cumulative score according to the aforementioned criteria and selected 25 countries which scored the highest points. Subsequently, we ranked each entry based on the total points scored, from lowest to highest. Where there was a tie, we broke it based on the natural beauty of the respective country.
To sum it up, we ranked the 25 most amazing countries in Asia using a consensus methodology. By the way, Insider Monkey is an investing website that tracks the movements of corporate insiders and hedge funds. By using a similar consensus approach, we identify the best stock picks of more than 900 hedge funds investing in US stocks. The top 10 consensus stock picks of hedge funds outperformed the S&P 500 Index by more than 140 percentage points over the last 10 years (see the details here). Whether you are a beginner investor or professional one looking for the best stocks to buy, you can benefit from the wisdom of hedge funds and corporate insiders.
To read more about some of the most hospitable and welcoming countries in Asia, check out our article on the 15 Friendliest Countries in Asia.
25 Most Amazing Countries in Asia
25. Russia
Total Score: 23
Being the largest country in the world in terms of area, Russia is located in both, Europe and Asia. Many people like to visit the country to experience its vastness and magnificence. The country is extraordinarily rich in history, literature, and culture. It is home to numerous cathedrals, museums, and galleries including State Hermitage Museum, St. Basil’s Cathedral, and The State Tretyakov Gallery, making it one of the most amazing countries in Asia.
24. Turkmenistan
Total Score: 24
Independence Monument, Ertugrul Gazi Mosque, Ashgabat, and Berkarar are some of the top attractions located in Turkmenistan. The country is known for its architecture, deserts, valleys, and rich culture. The locals in Turkmenistan are known to be extremely friendly and welcoming towards tourists.
23. Oman
Total Score: 25
Oman is one of the most amazing countries in Asia, mainly because of its peace and calmness. The country is filled with numerous historical sites owing to its rich history. The country is home to many pristine beaches that offer water activities including snorkeling. Oman is known to be an extremely safe country to visit.
22. Uzbekistan
Total Score: 27
Primarily known for its historic architecture, beautiful mosques, and rich culture, Uzbekistan is one of the most amazing countries in Asia. The country is home to numerous ancient bazaars that attract many tourists. It is known to be extremely budget-friendly in terms of accommodation and transportation.
21. Mongolia
Total Score: 27
Mongolia is known for its living nomads. Many people like to visit the country because of its vast wilderness, mountains, and rich culture. Mongolians are known to be extremely tourist-friendly and like to expose foreigners to their culture and lifestyle. The country welcomed approximately 0.2 million tourists in 2023.
20. Taiwan
Total Score: 28
Known for its vibrant and bustling nightlife, Taiwan not only offers a modern landscape to its visitors but also allows them to enjoy the natural landscapes across the country. Taiwan is home to abundant animal and plant life, which attracts many nature-lovers. Additionally, the country has maintained its reputation for being safe and welcoming, making it one of the most amazing countries in Asia.
19. Bangladesh
Total Score: 30
Old Dhaka, Sylhet, Srimangal, and Khagrachari are some of the top destinations in Bangladesh. Known for its vibrant culture, rich history, ancient archaeology, and scenic landscapes, the country welcomes many tourists every year. The cuisine in Bangladesh is also famous worldwide and is loved by many tourists.
18. Laos
Total Score: 31
Lying between Thailand, Vietnam, and Cambodia, Laos is a country packed with waterfalls, temples, mountains, forests, and caves. The country offers numerous adventurous sports and culturally diverse cuisine to its tourists. Approximately 49 different ethnic groups reside in the country.
17. Jordan
Total Score: 31
Located in the Middle East, Jordan is one of the most welcoming countries in Asia. Many people visit Jordan because of its landscapes and historical sites. The country is home to many art galleries, which attracts art-lovers from across the globe. Some of its top attractions include the Dead Sea, Wadi Rum, Petra, and Roman Ruins.
16. Myanmar
Total Score: 32
Myanmar is home to many beaches and picturesque landscapes; however, it is mainly known for the Buddha temples that are located across the country. The country has numerous religious sites that tourists can visit including Shwenandaw Monastery, Taung Kalat Monastery, and Ananda Temple.
15. Bhutan
Total Score: 32
Thimphu, Jigme Dorji National Park, Bumthang, and Buddha Dordenma Statue are some of the most popular tourist attractions in Bhutan. The country boasts some of the best forts, monasteries, and trekking spots which in turn, attract many tourists.
14. Nepal
Total Score: 33
Known as the “City of Temples”, Nepal is filled with numerous religious sites including Pashupati Nath temple and the White Monastery. Being a culturally diverse country, Nepal has popular historical and cultural attractions that highlight the rich history of the country. Additionally, the country is also known for its beautiful natural landscapes, making it one of the most amazing countries in Asia.
13. Sri Lanka
Total Score: 35
In recent years, Sri Lanka has become an extremely popular destination for tourism. The country is home to many beaches, but is primarily known for its history that dates back around 2500 years. Sri Lanka has innumerable historic landmarks, including temples and forts.
12. Maldives
Total Score: 36
Made up of over 1000 islands, Maldives is home to one of the most beautiful and pristine beaches in the world. The country attracts many tourists, who like calmness during their vacation. Maldives offers its visitors luxurious resorts and numerous water activities like snorkeling and scuba diving.
11. Cambodia
Total Score: 36
There are numerous temples and monuments in Cambodia that were built by the Khmer Empire between the 9th to the 15th century. Other than that, the country allows its visitors to explore numerous fields, mountains, and tropical islands. The country is mainly known for its history and natural landscapes, and is number 11 on our list of the 25 most amazing countries in Asia.
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Disclosure: None. 25 Most Amazing Countries in Asia is originally published on Insider Monkey.