Chinese tourists arrive at a welcoming ceremony for the first batch of Chinese tourists under the five-month visa-free entry scheme at Bangkok International Airport, Thailand, September 25, 2023.Reuters file photo
BEIJING/HONG KONG — Chinese travelers flock to tourist hotspots across Asia during the Lunar New Year holiday, with visitor numbers and spending exceeding pre-COVID-19 levels in destinations including Singapore, Thailand and Malaysia. Ta.
Visa-free access for Chinese tourists to Southeast Asian countries has increased traffic and boosted travel since the Chinese government lifted strict coronavirus restrictions in early 2023 that had kept China’s borders largely closed for three years. It was a sign of revival.
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.
Read: Thailand, Malaysia, Singapore attract Chinese with visa-free travel
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’m thinking about it.”
According to travel site operator Trip.com, bookings to Singapore, Thailand and Malaysia collectively surged more than 30% from February 10 to 17 compared to 2019, with bookings for Hong Kong, Macau, Japan and South Korea also increasing. The number of Chinese tourists 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 13, and hotel bookings in Singapore soared nine times compared to a year ago, reflecting the tailwind from the visa exemption.
Combined spending in Singapore, Thailand and Malaysia on Chinese mobile payment platform Alipay rose 7.5% from 2019 levels in the period from February 9 to 12, almost seven times as much as last year, according to Alipay. It became.
However, overall consumer spending has only recovered to 82% of its level four years ago, the company said.
Middle East surge
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.
Macau’s gaming hub, the only place in China where citizens can legally gamble in casinos, recorded a surge in Chinese tourists, with more than 1 million visiting over the holidays, and official data shows The average occupancy rate reached 95%.
The surge in tourists bodes well for some of the world’s biggest casino operators in the former Portuguese territory, including Sands China and Wynn Macau.
JPMorgan said in a note that it expects total gaming revenue per day during the holiday peak to reach $124 million for the first time in more than four years, which is expected to reach $124 million during the Golden Week holiday in October 2023. He said the amount exceeded $12 million.
Mass gaming fees are expected to reach 120% of pre-COVID-19 levels, with total gaming revenue in February rising at least 80% year over year to $2.36 billion, the highest in more than four years. He added that he expected that. .
Across the border in Hong Kong, leader John Lee said on Tuesday that more than 1.2 million Chinese tourists visited the city over the Lunar New Year, with overall hotel occupancy reaching 90% in the first few days. Stated. About 1,980 tour groups from mainland China visited Hong Kong during the holidays.
Read: Garlin says Department of Transport needs to step up efforts to attract more tourists
South Korea’s Ministry of Justice announced that more than 114,000 Chinese tourists entered the country during the holiday, an increase of 4% from 2019, but some travel agents said tourists were choosing to travel individually rather than in groups. He pointed out that organized travel to large-scale tourist destinations is decreasing. store.
“Due to the decline in group tourists, we no longer see Chinese tourists carrying large shopping bags,” a travel agent in Seoul told Reuters on condition of anonymity as he was not authorized to speak. media.
In Japan, department store operator Isetan Mitsukoshi Holdings said that by February 14, “duty-free sales significantly exceeded the previous year, partly due to the impact of the Lunar New Year.”
Changes in vacation preferences are reflected in some data as travelers seek more experience-based travel, with Alipay reporting that Chinese tourist arrivals globally have increased compared to pre-coronavirus levels. They spent 70% more on food and drink.
According to Trip.com, overseas car rentals on its platform have soared by 53% compared to 2019, and tickets for scenic experiences abroad have soared by more than 130%.
