Cebu: The Asian Development Bank (ADB) has announced plans to invest up to USD3 billion in tourism across Southeast Asia by 2030, emphasizing the sector's significance in fostering regional economic growth.
According to Philippines News Agency, ADB Vice President for Southeast Asia Scott Morris revealed these plans at the ASEAN Tourism Conference in Cebu, where tourism ministers are convening to determine the sector's trajectory for the coming five years. Morris highlighted ADB's commitment to the newly-launched ASEAN Tourism Sectoral Plan (ATSP) 2026-2030, which aims to position Southeast Asia as a 'one unified destination' by the end of the decade.
The ATSP is centered on five strategic priorities: empowering the tourism workforce, promoting resilient tourism, ensuring accessible and seamless travel, advancing digitalization, and encouraging product diversification. Morris emphasized that tourism is a pivotal growth engine in the region, supporting one in every 10 jobs, and is crucial to the broader macroeconomic landscape.
Morris stated that with appropriate policies, investments, and partnerships, tourism can further drive inclusive, resilient, and sustainable growth throughout Southeast Asia. He added that the ASEAN Tourism Sectoral Plan offers a robust framework for ADB and ASEAN member states to adopt an integrated and comprehensive approach to tourism, which will generate employment, protect the environment, and bolster economic resilience across the region.
