Hong Kong
The Sunday Review
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the China existed years before Covid. the world’s most important source of International travelers. It has 155million tourists More than one quarter of the amount spent of A trillion dollars outside its borders for 2019
This largesse was quickly exhausted the These are the past three-years the The country effectively closed its borders. Millions of Chinese citizens are waiting for China to open its borders again on Sunday. of tourists They are ready to return To the World stage and raising hopes of Rebound for the global Hotel industry
While international travel might not be possible return Businesses, industries, and countries that rely upon them must immediately reduce their levels to pre-pandemic levels. Chinese tourists According to analysts, 2023 is expected to see an increase.
China had an average of 12 million passengers flying outbound each month, but this number fell 95% in 2019. the Covid years, according to Steve Saxon, a partner in McKinsey’s Shenzhen office. According to him, that number will rise to 6 million per monthly. the summer, driven by the Wanderlust is a passion. of young, wealthy Chinese Emmy Lu works, just like you. for An advertising agency in Beijing.
“I’m so happy [about the reopening]! ” Lu spoke to The Sunday Review. “Because of the pandemic, I could only wander around the country for the past years. It was difficult.”
“It’s just that I’ve been stuck inside the country for a little too long. I’m really looking forward to the lifting of the restrictions, so that I can go somewhere for fun! ” the A 30-year-old woman said that she wants to travel Japan and Europe. the most.
China declared last month that it will no longer quarantine inbound travellers beginning January 8th, including those returning from overseas trips. Searches for Trip.com immediately reported a record three-year peak in international accommodations and flights.
(TCOM).
Book Bookings for Travel abroad during the According to data from Data from, the upcoming Lunar New Year holidays, which fall between January 21-January 27 this year have increased by 540% compared with a year ago. the Chinese travel site. Bookings averaged 32% more.
These are the most popular destinations in the Asia Pacific includes Australia, Thailand Thailand, Japan and Hong Kong. United States the The United Kingdom was also included in the rankings. the Top 10.
“The rapid buildup in … [bank] deposits over the past year suggests that households in China have accumulated significant cash holdings,” Alex Loo is a macro strategist for TD Securities said that household spending has been restricted due to frequent lockdowns.
It could happen. “revenge spending” Chinese He said that consumers are mirroring the events in other developed markets, which happened when many markets reopened at the beginning of last year.
That’s good news for Many economies are in trouble the pandemic.
“We estimate that Hong Kong, Thailand, Vietnam and Singapore would benefit the most if China’s travel service imports were to return to 2019 levels,” said Goldman Sachs analysts。
Hong Kong — the world’s most visited city with just under 56 million arrivals 2019 saw the highest number of people living in cities. of them from mainland China — could see an estimated 7.6% boost to its GDP as exports and tourism income increase, they said. Thailand’s GDP may be boosted by 2.9%, while Singapore would get a lift of 1.2%.
Other places in the The Philippines, Mauritius and Malaysia are all likely to reap the benefits. the return of Chinese touristsAccording to Capital Economics research
Hong Kong was particularly badly affected. the Closing of Its border with mainland China. The city’s pillar industries of Tourism and real estate are both being hit. Financial hub predicts that GDP will contract by 3.2% by 2022.
Thursday’s announcement by the city government stated that upto 60,000 individuals would be permitted to cross. the border daily each way, starting Sunday.
Other Southeast Asian countries dependent on tourism have made entry restrictions relatively lax for Chinese tourists, despite the Record-breaking Covid-19 pandemic has hit China over the past few weeks. These include Thailand, Indonesia and Singapore. the Philippines.
“This is one of the opportunities that we can accelerate economic recovery,” Thailand’s health minister said this week.
New Zealand also has waived its testing requirements for Chinese Visitors, who were the Second largest source of tourist revenue for the Before country the pandemic.
However, other countries are cautious. Nearly a dozen countries have so far been included in the list. the United States, France and South Korea require testing.
The European Union Wednesday “strongly encouraged” Its members require that all states pass the Covid test. for visitors arriving from China prior to arrival
It is clear that there are “conflict” Between the Tourist authorities the political and health officials in some countries, said Saxon, who leads McKinsey’s travel practice in Asia.
Already, airports and airlines have blasted the EU’s recommendations for Testing requirements
International Air Transport Association the airline industry’s global Together with the airports represented in ACI Europe, as well as Airlines lobby group for Europe. joint statement on Thursday, calling the EU Move “regrettable” “a knee-jerk reaction.”
However, they were very much appreciated the Another recommendation is to test the wastewater. of Identification of new varieties of the It is a viable alternative to the testing of passengers for disease.
This will not only be subject to restrictions but also take some time for International travel will fully recover because of many Chinese They must renew and apply for their passports for According to analysts, visas are back in demand.
Lu, a Beijing resident said that she is still considering her travel plans and taking into account the Different requirements are available the Very high prices of flying.
“The restrictions are normal, because everyone wants to protect people in their own country,” She said. “I’ll wait and see if some policies will be eased.”
Liu Chaonan is a Shenzhen 24-year-old who said she originally wanted to visit. the Philippines celebrates the Chinese New Year, but didn’t have time to apply for the visa. So, she moved to Thailand which has quick and simple electronic permits.
“Time is short and I need to leave in about 10 days. People may choose some visa-friendly places and countries to travel to,” “She said she would like to go scuba diving, and that she also wants cosmetics.” Her total budget for the The cost of a trip to China could be more than 10,000 yuan (1,460).
Saxon said he expected China’s outbound international travel to fully recover by the Year end.
“Generally, individuals are pragmatic and countries will welcome Chinese tourists due to their spending power,” He said that restrictions may be removed quickly by countries, as he added. the China improves the covid situation
“It will take time for international tourism to get going, but it will come rushing back, when it happens.”
