Tony Blair, the former British Prime Minister emphasized on the potential tourism market for growing middle class in Asia, particularly in China in his speech at WTTC in Seoul.

"Over the next 10 years, the travel and tourism industry in Asia will expand by over 6 percent year-on-year,” he said. “This is faster than any other region in the world.”

This phenomenal growth will be driven by increasing wealth among Asia’s middle classes, particularly in China. The United Nations describe it as a historic shift, the likes of which has not been seen for 150 years. Asia’s middle class is forecast to triple to 1.7 billion by 2020.

The two-day Summit, comprising seven seminars under the theme “Staying Ahead of Tomorrow,” is looking at how to best exploit the huge projected growth in tourism throughout China, South Korea and the wider Pacific region, while urging developed western nations not to miss out by introducing taxes which will lose more money than they generate.

The WTTC is the world’s largest non-profit organization on travel and tourism, and is comprised of global business leaders in the field. This marks the first time the summit is being held in Seoul.