Yahoo Finance The Most Loved Country in Asia Attracts 10+ Million Visitors Annually
In this article, we look at the most loved country in Asia. We have created a list of the most revered countries in the continent, for the full free list, visit 20 Most Loved Countries in Asia.
Each country offers a unique experience. However, there are some countries that you just love, whether it is because of their architecture, landscape, culture, and cuisine, or due to the experiences you have with locals in those countries. Quite often, an important determinant is also the economic opportunities you get offered there. All of these factors combine to have a long-lasting impact on your perception of those countries.
Asia is the fastest growing continent in the world, and by 2040, it is projected to represent more than 50% of the world’s GDP. The region offers immense potential, which has resulted in a mass inflow of job seekers, remote workers, and investors to the continent with an eye on tapping in on the lucrative opportunities offered by Asia. Besides that, the region’s tourism reputation has also enhanced over the last couple of decades, due to its warmer climates, unique landscapes, and diverse cultures.
The United Arab Emirates is one example of that. The Dubai Mall, a shopping mall in Dubai, was recently declared as the most visited place on Earth, as it welcomed over 105 million visitors in 2023. Millions of tourists travel to the country every year to get a feel of the UAE’s vibrant life marked by its glitzy hotels and stunning architecture. There has also been an increase in the number of people from developed countries of Europe and North America moving to the UAE for improved lifestyles, lower taxes, and higher income.
Several large international corporations maintain presence in the UAE and contribute toward the country’s success. This includes Microsoft Corporation (NASDAQ:MSFT) which is hopeful of adding a whopping $39 billion to the Emirati economy between 2022 and 2026 through its cloud portfolio, which is likely to create 100,000 jobs as well. The American technology giant is also negotiating with officials in the UAE over the potential use of its cloud-based services in government sectors. Besides that, Microsoft Corporation (NASDAQ:MSFT) plans on investing another $3.4 billion in the coming years to support data centers and local businesses across the country.
As more and more people shift to the UAE, the real estate business is also booming in the country. A recent study held in the UK declared Dubai as the most profitable city in the world for landlords that place their properties on Airbnb, Inc. (NASDAQ:ABNB). The study noted that house owners were charging over $1,000 per night in some properties that were located closer to the Burj Khalifa. The research highlighted that owners who place their properties on Airbnb, Inc. (NASDAQ:ABNB) in Dubai were expected to breakeven and recover their money after 121 nights of their property being rented out. Another Asian city that made to the list of the profitable cities for Airbnb, Inc. (NASDAQ:ABNB) business was Vietnam’s capital, Hanoi.
Turkiye is another top destination for tourists, where the number of travelers in 2023 jumped 10.4% compared to the previous year, to total 50 million. The figure is likely to further grow as Ankara this year relaxed travel requirements for tourists from the US, Canada, and Mexico by eliminating the need for them to obtain an e-visa if their visit was shorter than 90 days. Turkiye’s growing appeal as a tourist destination has led to a boom in its hospitality industry, with renowned hotel chains including Marriott International, Inc. (NASDAQ:MAR) and Wyndham Hotels & Resorts, Inc. (NYSE:WH) further expanding their presence in the country.
Wyndham Hotels & Resorts, Inc. (NYSE:WH) recently added the Ramada by Wyndham Karapinar and Days Hotel by Wyndham Istanbul Esenyurt to its list of hotels in Turkiye. Wyndham Hotels & Resorts, Inc. (NYSE:WH), which is the largest hotel company operating in the country, has over 100 active hotels, and another 20 under development in Turkiye.
On the other hand, in September 2023, Marriott International, Inc. (NASDAQ:MAR) announced that it had signed 13 new contracts to expand its presence in Turkiye, with the new projects anticipated to add another 2,000 rooms to its already large portfolio of over 8,000 rooms nationwide. Marriott International, Inc. (NASDAQ:MAR) currently runs 48 properties in Turkiye under 21 brands.
06photo/Shutterstock.com
Methodology
To prepare the list of the most loved countries in Asia, we consulted five articles published by Insider Monkey over the past year on the 15 Most Respected Countries in Asia, 15 Friendliest Countries in Asia, 20 most visited countries in Asia, 20 Most Diverse Countries in Asia, and 20 Most Democratic Countries in Asia, and assigned each of these five metrics weights. 75% weight was assigned to the first three articles i.e., on respected, friendliest, and most visited countries in Asia, while 25% was allotted to countries’ diversity and democratic credentials.
It was observed where a country ranked on each metric, and then it was assigned scores accordingly depending on each metric’s weight. The 20 most loved countries in Asia are ranked in ascending order of their overall scores.
At Insider Monkey we are obsessed with the stocks that hedge funds pile into. The reason is simple: our research has shown that we can outperform the market by imitating the top stock picks of the best hedge funds. Our quarterly newsletter’s strategy selects 14 small-cap and large-cap stocks every quarter and has returned 275% since May 2014, beating its benchmark by 150 percentage points. (see more details here).
The most loved country in Asia is Malaysia!
1. Malaysia
Respect Rank: 8
Visited Rank: 5
Friendliness Rank: 2
Diversity Rank: 14
Democracy Rank: 6
Overall Score: 0.701
Malaysia is the most loved country in Asia as it ranks high on all metrics considered in our research. It is the sixth most democratic country on the continent. Moreover, it is the fifth most visited country in Asia, welcoming over 10 million travelers in 2022. People head to the Southeast Asian country to not just get an experience of its stunning beaches and posh city life, but also explore the local culture and tradition, which is enriched by hospitable and friendly locals. Besides, Malaysia is also a very diverse country, with an ethnic fractionalization of 57%.
To learn about other deeply revered countries in Asia, you can check out our detailed report 20 Most Loved Countries in Asia.
At Insider Monkey, we delve into a variety of topics, ranging from loved countries to business aspects; however, our expertise lies in identifying the top-performing stocks. Currently, Artificial Intelligence (AI) technology stands out as one of the most promising fields. If you are looking for an AI stock that is more promising than NVDA but that trades at less than 5 times its earnings, check out our report about the cheapest AI stock.
READ NEXT: Michael Burry Is Selling These Stocks and Jim Cramer is Recommending These Stocks.
Disclosure: None. This article is originally published on Insider Monkey.
