BEIJING: Chinese tourists flocked to popular tourist spots across Asia during the Lunar New Year holiday, with visitor numbers and spending in destinations such as Singapore, Thailand and Malaysia exceeding pre-COVID-19 levels. .
Since the Chinese government lifted strict coronavirus restrictions in early 2023 that had largely closed its borders for three years, traffic has increased as Chinese tourists have been able to access Southeast Asian countries without visas. Travel is making a strong comeback.
This increase will also be a welcome relief for countries whose tourism industries depend on Chinese people and spending for growth, but prospects for a sustained recovery in international travel are hampered by a weak mainland economy and consumer decline. at home, albeit overshadowed by volatile financial markets that are tightening the market.
HSBC said in a research note: “Despite macroeconomic headwinds, we believe Chinese citizens remain willing to spend on travel-related experiences… Travel-related spending may continue to outpace overall domestic consumption. I think it’s sexual,” he said.
According to travel site operator Trip.com, bookings to Singapore, Thailand and Malaysia collectively surged more than 30% from February 10 to February 17 compared to 2019, with bookings for Hong Kong, Macau, Japan, The number of Chinese tourists to South Korea has also increased.
The 2024 holiday lasted eight days, one day more than the 2019 Lunar New Year holiday.
According to travel platform LY.com, hotel bookings in Bangkok soared three times year-on-year from February 10 to February 13, reflecting a boost from visa waivers, while hotel bookings in Singapore soared nine times compared to the same period last year. did.
According to Alipay, combined spending in Singapore, Thailand and Malaysia on Chinese mobile payment platform Alipay increased by 7.5% from 2019 levels in the period from February 9 to February 12, almost the same as last year. It became 7 times.
However, overall consumer spending has only recovered to 82% of its level four years ago, the company said.
The Middle East became a popular Lunar New Year destination as Chinese people sought new adventures, with trips to Saudi Arabia up more than nine times from 2019 levels and bookings to the United Arab Emirates up 60%. reported Trip.com.
