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Club Med owner Fosun Tourism is boosted by Chinese tourists, reports US$69.5 million first-half profit

Club Med owner Fosun Tourism Group said on Monday net profit attributable to the company’s shareholders amounted to 490 million yuan (US$69.5 million) for the first six months this year, against a net loss of 254.5 million for the same period last year, mainly down to rising profit from tourism operations.The company said gross profit for the first half grew 67.7 per cent to 3.015 billion yuan, while revenue grew 35.9 per cent to 9.1 billion yuan, even as a slowing global economy continued to… Source link

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Vietnam 

VN needs to extend further visa exemption policy for tourists – Economy – Vietnam News | Politics, Business, Economy, Society, Life, Sports

  Việt Nam needs to extend further visa exemption policy for foreign tourists for attracting more foreign visitors coming back. Photo baokhanhhoa.vn     HÀ NỘI – Việt Nam should extend visa exemption policies for foreign tourists to encourage more visitors to return.   Từ Quý Thành, General Director of the Federal Travel Company, said right now foreign tourists who receive visa exemptions are allowed to stay here for only 15 days, less than the average time they often want to stay.   He says the visa exemption policy would need to…

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Hong Kong protests will put off 350,000 mainland Chinese tourists this year, HSBC estimates

The massive protests that have rattled Hong Kong in recent weeks will put hundreds of thousands of mainland Chinese tourists off visiting the city this year, according to HSBC.The bank believes that the number of visitors from the mainland will continue to grow in 2019, but at a slightly slower rate than it had forecast before people took to the streets in their millions to demonstrate against the now-suspended extradition bill.It has revised down its estimated growth of mainland tourist… Source link

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Hong Kong’s retail sales will drop 5 per cent this year amid fall in numbers of mainland Chinese tourists, says PwC

Hong Kong’s retail sales are expected to slump 5 per cent to HK$460 billion (US$59 billion) for the full year, dragged down by economic uncertainty and a decline in mainland Chinese tourists, according to international advisory firm PriceWaterCoopers (PwC).The estimate is a downgrade from its earlier forecast of a 3 per cent drop in sales, reflecting a weaker outlook, as government statistics showed first-quarter retail sales falling 2 per cent compared to the same period last year.“The ongoing… Source link

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China 

US destinations scramble to win back Chinese tourists

The number of Chinese visitors to the US has fallen for the first time in 15 years, after more than a decade of rapid growth, but friction between the two countries is just one reason for the slowdown, according to travel industry insiders.Travel from China to the US fell 5.7 per cent in 2018 to 2.9 million visitors, according to the National Travel and Tourism Office, which collects data from US Customs forms. It was the first time since 2003 that Chinese travel to the US slipped from the… Source…

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Vietnam 

Number of tourists between Vietnam, Japan to reach 1.5 million by 2020 – Economy – Vietnam News | Politics, Business, Economy, Society, Life, Sports

HÀ NỘI — Japan was a key market for the Vietnamese tourism sector, Deputy Ambassador of Vietnam to Japan Lâm Thanh Phương said yesterday, predicting that the exchange of tourists between the two countries would reach 1.5 million arrivals by 2020. Speaking at a workshop to promote central Đà Nẵng city’s tourism in Tokyo, the official added the number of visitors travelling between the two nations surpassed 1.2 million last year, of which 826,000 Japanese people travelled to Việt Nam. She attributed the positive figure to an increase in the number of…

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Ctrip CEO says trade war is putting Chinese tourists off US, with many opting for ‘more welcoming’ nations

Chinese tourists are shunning the US amid the trade war and opting for more welcoming destinations in Europe, according to Jane Sun, chief executive officer of Asia’s largest online travel platform Ctrip.When the China-US trade war started last year, there was a slowdown in Chinese tourists travelling to the US during China’s October golden week holiday in the fourth quarter, which eased when the two countries made progress in their trade talks, Sun said in an interview on Friday.The US slid to… Source link

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Singapore 

Owners of dog that died at pet boarding firm not aware tourists were hired to care for animals, Singapore News

SINGAPORE – The owners of the Maltese that died while under the care of a dog boarding and daycare company said they were not aware tourists had been recruited as volunteers to take care of the animals. The married couple, who wanted to be known only as Mr Raymond, 31, and Ms Jenny, 29, said they were disappointed with the way Board N’ Play had responded, following the death of Garfield, their one-year-old Maltese, on April 17. “We didn’t get any official apology or explanation from Ms Loy about the…

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Property 

Luxury hotels St Regis and Rosewood eye big spenders as tourists flock to Hong Kong

The opening of two upscale hotels in the city in the past month underscores the upbeat outlook for the sector, with the 542 additional rooms and suites expected to be easily absorbed as tourists flock to the city, analysts said. Tourist arrivals rose to 12.4 million in the first two months of the year, up 16.6 per cent from a year earlier, according to the Hong Kong Tourism Board. Occupancy at top hotels rose to 88 per cent in February compared with 86 per cent a year earlier. On Thursday,…

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Thailand, the Land of Smiles, is beaming on tourists, blockchain and cryptocurrencies alike to promote technological innovation

As digital landscapes shift between the new and the old, blockchain and cryptocurrencies have quietly risen in popularity, particularly as countries experiment with emerging technologies. With power increasingly framed by Asia’s soft ambitions as the region embarks on more persuasive methods of influence, the continent’s blockchain market is projected to grow by an estimated 87 per cent , with the next chapter of adoption likely to unfold within the East. Even as Asia continues its advance,… Source link

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