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Global DestinationCities Index 2019March 2019

Global Destination Cities Index2019 marks 10 years’ worth of insights stemming from Mastercard’s GlobalDestination Cities Index. Over the years, this annual report has shown therise of international travel to cities around the world and the impact it ishaving in driving local commerce.Diana Munoz RobinoSenior Vice President ofGlobal Tourism Partnerships,MastercardTravel is booming, but for host countries and cities, generating profits can’t livein isolation. Holistic strategies must create pathways to sustainable and inclusivegrowth for all segments of society. With the right insights, innovations, andpartnerships between the public and private sectors, we can help local leaders betterunderstand how to anticipate, plan for, and manage increasing flows of visitors andhow to empower businesses of all sizes to better serve the needs of internationalvisitors. The benefits of good planning will extend beyond commerce to inclusive,sustainable growth and being respectful of local natural habitats.This year, Mastercard’s Global Destination Cities Index reveals Bangkok as theNo. 1 city for the fourth consecutive year while Paris overtakes London for theNo. 2 spot. With a decade of insights, we can identify trends of how people aretraveling internationally while showcasing emerging markets and the continuousgrowth of the industry. Consistent and Steady Growth – Over the past decade, the one constant has beencontinual change. Each year, more people are traveling internationally and spendingmore in the cities. Between all of the destinations within the Index, arrivals havegrown on average 6.5 percent year-over-year since 2009, with expenditure growingon average 7.4 percent. Sustained Dominance of Major Cities – While there has been significantmovement in visitors to smaller cities, the top 10 has remained largely consistent.London, Paris, and Bangkok have been the top 3 since 2010, with Bangkok as No. 1six of the past seven years. New York is another top 10 stalwart, with 13.6 millionovernight visitors this year. Rise of Asia-Pacific International Travelers – Cities in Asia-Pacific have seenthe largest increase in international travelers since 2009, growing 9.4 percent. Incomparison, Europe, which saw the second highest growth, was up 5.5 percent. Thisis spurred on by the growth in mainland Chinese travelers. Since 2009, mainlandChina has jumped six places to be the No. 2 origin country for travelers to the 200included destinations—behind only the U.S.Mastercard acts as the technology partner for the global travel and tourism industry.We provide complete solutions that bundle data insights, digital identity, paymentand security solutions, visitor management and infrastructure consulting in order tosolve for the unique needs of a destination. Simply put: We help our travel and tourismpartners better understand tourism spending patterns and deliver more connectedand inclusive experiences.Through the insights from the Global Destination Cities Index and Mastercard’s workwith partners across the world, we continue our commitment to support economic,sustainable tourism and inclusive travel.

Growth of International VisitorArrivals, Spend Still OutpacesWorld Real GDP200190.7Total International OvernightArrivals Expenditure(200 Destinations)190180176.0Total InternationalOvernight Arrivals(200 Destinations)170160150140.3140World Real 72018* World GDP Source: IMF WEO, calculated at market exchange ratesMastercard Global Destination Cities Index 2019

Bangkok Continues to LeadAmong Top Destination CitiesIstanbulAntalyaPalma de w YorkHong Kong SARPattayaDubaiMakkahBangkokKuala LumpurCityTotal iRankCityTotal aya9.44MM06Kuala Lumpur13.79MM16Milan9.10MM07New ma de 2.41MM20Hong Kong SAR8.23MMRankMastercard Global Destination Cities Index 2019

Global Top 20 DestinationCities by International OvernightVisitors (2018)OVERNIGHT INTERNATIONAL VISITORS (MM)Rank1234567891011121314151617181920DESTINATION Singapore13.9014.674.00%Kuala Lumpur12.5813.799.87%New Barcelona8.709.094.78%Palma de Mallorca8.828.964.40%Bali7.768.261.30%Hong Kong SAR8.178.231.70%ThailandFranceUnited KingdomUAESingaporeMalaysiaUnited StatesTurkeyJapanTurkeySouth KoreaJapanSaudi aHistorical data in each times series presented above has been updated with the latest figures orestimations and may not be comparable to the time series from previous editions of this report.* Growth rate forecastMastercard Global Destination Cities Index 2019

Top 20 Origin Markets:Top 3 DestinationsRankORIGIN MARKETS% SHARE CONTRIBUTION TO200 GLOBAL DESTINATIONS BYOVN INTERNATIONALARRIVALS1TOP 3 GLOBAL rontoUnited States3,3875.3%2,928Bangkok2Mainland China8,5053Germany15.0%8.40%6.50%9.00%United ngkok2,11110.0%1,798Las Vegas9.2%New 40%2,3073.60%Tiroler arisOsakaSouth 16.40%2,43153,710Palma deMallorca7.30%4.6%SeoulPalma deMallorca3,3134London1,1236.9%972Singapore6.0%New York2.60%1,59110.98836.0%7144.9%Mastercard Global Destination Cities Index 2019

RankORIGIN MARKETS% SHARE CONTRIBUTION TO200 GLOBAL DESTINATIONS BYOVN INTERNATIONALARRIVALS11TOP 3 GLOBAL 40%1.90%14.2%7.6%Porto 1.40%1.20%1.30%0.80%1.10%0.80%1,34213.7%Tiroler 2%627Kuala 1.60%2,095205.0%1.50%3,4061913.8%6.6%BahrainSaudi Arabia5751.40%9061811.0%ParisNew okyoTaiwan, .6%886Bangkok11.6%Chennai1.30%78711.4%ARRIVALS (MM)69510.1%4947.2%ORIGIN % SHARE**Origin % Share refers to the destination’s share of all tourists coming from the origin country who are visiting the 200 Global Destinations.For example in 2018, 5.3% of all origin U.S.A. tourists going to 200 Global Destinations visited Cancun.Mastercard Global Destination Cities Index 2019

Dubai Leads in OvernightInternational Visitor SpendingGloballyPalma de MallorcaIstanbulAntalyaLas PalmasBarcelonaParisSeoulLondonTokyoMiamiLos AngelesBangkokNew YorkSingaporeDubaiBaliMakkahSydneyKuala LumpurPhuketRankCityTotal Spend (US )01Dubai 30.82B02Makkah03RankCityTotal Spend (US )11Kuala Lumpur 11.13B 20.09B12Seoul 9.31BBangkok 20.03B13Las Palmas 9.02B04Singapore 16.56B14Bali 8.86B05London 16.47B15Istanbul 8.26B06New York 16.43B16Los Angeles 8.24B07Paris 14.06B17Sydney 8.03B08Tokyo 13.77B18Barcelona 7.86B09Palma de Mallorca 12.69B19Miami 7.70B10Phuket 12.01B20Antalya 7.65BMastercard Global Destination Cities Index 2019

Global Top 20 Destination Citiesby International Overnight VisitorSpend (2018)RankDESTINATION CITY& COUNTRYOVERNIGHT INTERNATIONAL VISITOR SPEND (US B)201720182019*1Dubai 29.70 30.824.18%2Makkah 21.04 20.097.94%3Bangkok 17.44 20.038.67%4Singapore 16.34 16.562.66%5London 17.45 16.474.64%6New York 15.65 16.432.93%7Paris 12.56 14.06-0.78%Tokyo 11.92 13.7712.74%9Palma de Mallorca 11.99 12.693.17%10Phuket 11.01 12.019.16%11Kuala Lumpur 9.27 11.134.71%12Seoul 6.99 9.3116.41%13Las Palmas 8.50 9.02-2.27%Bali 8.77 8.863.05%15Istanbul 6.75 8.269.74%16Los Angeles 8.70 8.243.88%17Sydney 7.89 8.031.51%18Barcelona 6.60 7.862.84%19Miami 7.68 7.703.22%20Antalya 5.94 7.659.74%814UAESaudi ArabiaThailandSingaporeUnited KingdomUnited StatesFranceJapanSpainThailandMalaysiaSouth KoreaSpainIndonesiaTurkeyUnited StatesAustraliaSpainUnited StatesTurkeyHistorical data in each times series presented above has been updated with the latest figures orestimations and may not be comparable to the time series from previous editions of this report.* Growth rate forecastMastercard Global Destination Cities Index 2019

Impact of Tourism to theDestination and Tourism Spendper ResidentVisitor Expenditure perresident (US )Ratio of International OvernightVisitors Expenditure to GDP 25,000200% 20,459179% 11,006 10,42156%27% 1,983 1,99312% 1,0342%2% 2,51124% 2,9385%BKK PAR LON DUB SIN 1,4938% 7701%KLC NYC 1,000 4493%1%IST 3,33135% 2,347 2,05719% 953 7759%3%2% 1,078 3383%1%TYO ANT SEL OSA MAK PHU PTTMIL 8202%BAR PDM BAL HKSBKK-Bangkok, PAR-Paris, LON-London, Dub-Dubai, SIN-Singapore, KLC-Kuala Lumpur, NYC-New York, IST-Istanbul, TYO-Tokyo, ANT-Antalya,SEL-Seoul, OSA-Osaka, MAK-Makkah, PTT-Pattaya, PHU-Phuket, MIL-Milan, BAR- Barcelona, PDM-Palma de Mallorca, BAL-Bali, HKS-Hong Kong SARMastercard Global Destination Cities Index 2019

Top 20 Global Destinations JobsSupported by 1,000 AdditionalOvernight TouristsThe number of jobs supported by 1,000 additional overnight tourists is a function how much tourism revenue is required to support onejob (national level ratio) and the average spend per tourist (i.e. the more each tourist spends the more jobs are supported). For example,1,000 additional tourists supports 409 jobs in Bali, 64 jobs in Bangkok but only 12 jobs in Singapore. As Singapore and Bali have very similarexpenditure per tourist ratios, the implication here is that higher productivity among Singapore labor drives higher revenues per employee,while lower labor costs in Bali allows the destination to have more tourism-related employees per tourist.450409105.487.877.363.649.135.612.116.1BKK PAR LON DUB SINKLC NYC10.9014.527.7IST20.127.715.412.86.6TYO ANT SEL OSA MAK PHU PTTMIL17.328.39.1BAR PDM BAL HKSBKK-Bangkok, PAR-Paris, LON-London, Dub-Dubai, SIN-Singapore, KLC-Kuala Lumpur, NYC-New York, IST-Istanbul, TYO-Tokyo, ANT-Antalya,SEL-Seoul, OSA-Osaka, MAK-Makkah, PTT-Pattaya, PHU-Phuket, MIL-Milan, BAR- Barcelona, PDM-Palma de Mallorca, BAL-Bali, HKS-Hong Kong SARMastercard Global Destination Cities Index 2019

Additional Insights IntoTop 20 Destination CitiesAvg Length Of VisitDESTINATION CITYMainland ChinaThailand% Share of Arrivals4.8 18436.7%Paris 29636.5%LondonUnited Kingdom5.8 148201850.4%Dubai 4.4%100%% Share of ArrivalsSpain% Share of 7.6%United States% Share of ArrivalsFranceGermany% Share of Arrivals% Share of %20187.6%Saudi ArabiaUnited Kingdom% Share of Arrivals% Share of 20187.6%% Share of Arrivals 272United Kingdom2009Mainland ChinaSingapore4.214.3%% Share of Arrivals3.520182009IndiaUAESouth Korea% Share of Arrivals7.3%% Share of Arrivals2.5Japan% Share of Arrivals2009United StatesFrance20182018% of National LevelOvernight Arrivals in 2018*2018 TOP 3 ORIGIN MARKETS OF INTERNATIONAL OVERNIGHT ARRIVALSBangkok2018Avg Daily Spend (US )IndonesiaIndia% Share of Arrivals% Share of %20188.5%Historical data in each times series presented above has been updated with the latest figures or estimations and may not be comparable to the timeseries from previous editions of this report* “% of National Level Ovn Arrivals” refers to the destination arrivals as a % of national arrivals (e.g. arrivals in Bangkok as % of arrivals in ThailandMastercard Global Destination Cities Index 2019

Avg Length Of VisitAvg Daily Spend (US )DESTINATION CITY2018 TOP 3 ORIGIN MARKETS OF INTERNATIONAL OVERNIGHT ARRIVALSKuala LumpurMalaysia5.7 142201846.0%New 200929.4%201820.6%201811.7%201811.5%Mainland ChinaCanada% Share of Arrivals% Share of 20187.4%IranSaudi Arabia% Share of Arrivals% Share of 0184.7%South KoreaTaiwan, China% Share of Arrivals% Share of .3%201810.7%RussiaTurkey14.03.9%% Share of Arrivals 19620182009Mainland ChinaJapanIndonesia% Share of Arrivals2.3%% Share of Arrivals 106Thailand% Share of Arrivals2009GermanyTurkey5.8% Share of Arrivals% Share of Arrivals 1522018Mainland ChinaUnited KingdomUnited States7.92018% of National LevelOvernight Arrivals in 2018*% Share of ArrivalsGermanyUkraine% Share of Arrivals% Share of Arrivals %20185.7%Historical data in each times series presented above has been updated with the latest figures or estimations and may not be comparable to the timeseries from previous editions of this report* “% of National Level Ovn Arrivals” refers to the destination arrivals as a % of national arrivals (e.g. arrivals in Bangkok as % of arrivals in ThailandMastercard Global Destination Cities Index 2019

Avg Length Of VisitAvg Daily Spend (US )DESTINATION CITY2018 TOP 3 ORIGIN MARKETS OF INTERNATIONAL OVERNIGHT ARRIVALSSeoulMainland ChinaSouth Korea5.3% Share of Arrivals 155201849.4%Osaka 3.0%201818.8%20187.4%15.2%Taiwan, China% Share of 01810.9%KuwaitIndia% Share of Arrivals% Share of %20189.8%RussiaGermany% Share of Arrivals% Share of 0186.7%% Share of Arrivals 164South Korea% Share of Arrivals2009Mainland ChinaThailand4.15.8%% Share of Arrivals 24720182009Mainland ChinaThailand4.936.4%% Share of Arrivals 13520182009PakistanSaudi ArabiaTaiwan, China% Share of Arrivals20.2%% Share of Arrivals3.0Japan% Share of Arrivals2009Mainland ChinaJapan20182018% of National LevelOvernight Arrivals in 2018*RussiaSouth Korea% Share of Arrivals% Share of 9%20187.0%Historical data in each times series presented above has been updated with the latest figures or estimations and may not be comparable to the timeseries from previous editions of this report* “% of National Level Ovn Arrivals” refers to the destination arrivals as a % of national arrivals (e.g. arrivals in Bangkok as % of arrivals in ThailandMastercard Global Destination Cities Index 2019

Avg Length Of VisitAvg Daily Spend (US )DESTINATION CITY2018 TOP 3 ORIGIN MARKETS OF INTERNATIONAL OVERNIGHT ARRIVALSMilanGermanyItaly% Share of Arrivals2.6 155201814.4%Barcelona201816.8%Palma de MallorcaSpain6.1 233201816.6%Bali8.650.6%Hong Kong 7% 218100%United Kingdom% Share of ArrivalsUnited States% Share of 9%201810.1%Germany% Share of ArrivalsUnited Kingdom% Share of ArrivalsItaly% Share of 1%20184.3%% Share of Arrivals 12520182009Mainland ChinaIndonesiaFrance% Share of Arrivals16.8%% Share of Arrivals 301United States% Share of Arrivals2009FranceSpain2.92018% of National LevelOvernight Arrivals in 2018*AustraliaIndia% Share of Arrivals% Share of %20185.8%South Korea% Share of ArrivalsUnited StatesJapan% Share of Arrivals% Share of 3%201810.4%Historical data in each times series presented above has been updated with the latest figures or estimations and may not be comparable to the timeseries from previous editions of this report* “% of National Level Ovn Arrivals” refers to the destination arrivals as a % of national arrivals (e.g. arrivals in Bangkok as % of arrivals in ThailandMastercard Global Destination Cities Index 2019

Top 20 Global DestinationsRevenue per Tourism Employee andExpenditure per Tourist BreakdownThe number of jobs supported by 1000 additional overnight tourists is a function how much tourism revenue is required to support one job andthe average spend per tourist (i.e. the more each tourist spends the more jobs are supported). For example, 1000 additional tourists supports409 jobs in Bali (which has a very low revenue per employee in that only US 2,620 of tourism revenue is required to support 1 job, but has arelatively high expenditure per tourist at US 1,072). Similarly only 12.1 jobs are supported by 1000 tourists in Singapore because of its veryhigh revenue per employee (US93,062) although its expenditure per tourist is similar to Bali at US 1,124 per tourist). Higher revenue peremployee tend to be among destinations in developed markets and could be a function of higher labor productivity. Similarly, lower revenuesper employees tend to be among emerging market destinations and could be a function of lower labor costs 120,000Bubble Size #Jobs supportedby 1000 additional tourists 100,000 80,00012.19.1 60,000MILPAR6.6OSAHKSNYC10.914.112.815.4SEL ST ANT 20,000PTT63.649.1105.4KLC409.387.8MAKDUBPHUBKKBAL 0 500 1,500 2,000 2,500BKK-Bangkok, PAR-Paris, LON-London, Dub-Dubai, SIN-Singapore, KLC-Kuala Lumpur, NYC-New York, IST-Istanbul, TYO-Tokyo, ANT-Antalya,SEL-Seoul, OSA-Osaka, MAK-Makkah, PTT-Pattaya, PHU-Phuket, MIL-Milan, BAR- Barcelona, PDM-Palma de Mallorca, BAL-Bali, HKS-Hong Kong SARMastercard Global Destination Cities Index 2019

18 Palma de Mallorca 8.96MM 19 Bali 8.26MM 20 Hong Kong SAR 8.23MM Seoul Tokyo Osaka Hong Kong SAR Pattaya Singapore Phuket Kuala Lumpur Bangkok Makkah New York Dubai Istanbul Palma de Mallorca Barcelona Milan Paris London Antalya Mast

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