Issue #133 - This Week's Top 8 Travel & Tourism Talking Points in Asia Pacific!
Issue #133 - This Week's Top 8 Travel & Tourism Talking Points in Asia Pacific!
Hot takeaways from China, Vietnam, Malaysia, Philippines, Macau and more.
Welcome to issue 133 of Asia Travel Re:Set.
It feels festive.
Songkran promotions for Thai hotels and travel packages are landing in my inbox. So, too, are springtime sakura deals and colourful photos from Japan.
I’ve also received Easter Afternoon Tea photo-sets from hotels, which look fabulous - while Indonesia forecasts 194 million people will travel during the Eid al-Fitr holidays.
Thanks for checking-in.
- This Week's Top 8 Travel & Tourism Talking Points in Asia Pacific!
Hot takeaways from China, Vietnam, Malaysia, Philippines, Macau and more.
- Assessing South East Asia’s Air Travel Recovery 4 Years After the Declaration of a Pandemic
In conversation with Singapore-based Brendan Sobie.
This Week’s Top 8 Travel & Tourism Talking Points in Asia Pacific!
[Source: Tuniu]
Let’s begin in China, where OTAs are feeling investor heat. During its 2023 Annual Report call, Nasdaq-listed Ctrip said “We believe our share price is undervalued.” It announced a share buy-back programme aimed at reflating its market value. On Wednesday, Nanjing-based, Nasdaq-listed Tuniu did likewise during its Annual Report call. Its situation is more urgent. On 12 January, Tuniu received notice that for 30 consecutive business days, its share price had been below the minimum bid price of US$1.00 under listing rules. Tuniu’s stock price ended Friday at USD0.80. [Tuniu]
Macau and Hong Kong are direct competitors for mainland Chinese tourists, while many international visitors to Hong Kong catch the fast ferry to visit Macau. Hence, tourism collaboration between the two SARs has been fairly low level. This could change as part of China’s general opening up to inbound tourism and as both cities become integrated into the Greater Bay Area. This week, Pansy Ho, Chair of MGM China, proposed multi-stop trips incorporating Hong Kong, Macau and locations in China. Ms Ho is a highly influential voice. This is one to follow. [Macau Daily News]
History may recall 2024 as the Year of the Tourism Tax. New levies are mushrooming at national and provincial levels. From November, Niseko resort in Hokkaido, Japan, will introduce a JPR2000 per-night fee on hotel and private lodging stays. Funds raised will be used to “improve local transportation and other measures to improve tourism.” [The Mainichi]
Next to Malaysia, where 2 new taxes are causing angst in travel circles. Firstly, the increased Passenger Service Charge rates for international travellers. Secondly, a High-Value Goods Tax, which enters into force on 1 May, although there is little clarity about its scope or a refund for tourists. As The Edge noted this week “The government has yet to come out with the definition of ‘high value goods’ and the price range of the items that are subjected to the tax.” [Various Media]
Taylor Swift has left the region, but her tourism impact is transformative. In Indonesia, a new Tourism Fund will “provide a special incentive for promotors who organise international-level attractions”. Meanwhile, with Singapore basking in the cashflow from the 6 Eras Tour concerts, Indonesia’s Minister for Tourism & Creative Economy proposed a bilateral partnership as a workaround to the thorny issue of regional “exclusivity” for hosting touring A-list stars. [Antara].
Talking of which, Philstar in the Philippines rebutted criticism by some leaders, notably Thai Prime Minister Srettha Thavisin and a Philippine Congressman, that Singapore’s funding to Ms Swift’s promoter was un-neighbourly. “Sour Grapes” it headlined. “Singapore did not compete with any other Southeast Asian country for the exclusivity arrangement. It was the only country in the region that quickly saw the huge tourism opportunities generated by a Taylor Swift performance.” [Philstar]
“Tourism industry still craves visitors” is this week’s most plaintive headline. Many regional destinations will empathise with the sentiments of Ho Chi Minh City in Vietnam. Saigon News notes: “Japanese tourists are tightening their budgets, and Vietnam is not their top choice destination. Chinese tourists are shifting away from Southeast Asian countries, including Vietnam.” The Chair of the Vietnam Tourism Association added “although tourist numbers are growing quite quickly, they still fall short of the economy's potential and demand.” [Saigon News]
And finally… to Thailand, where Prime Minister Srettha Thavisin is the front page cover story on the latest edition of Time magazine. Headlined “The Salesman,” the lead interview discusses how he is promoting Thailand as an investment, trade and tourism destination to haul the nation out of an “economic crisis”. He has visited 14 countries since taking power, including Germany, where - unusually for a political leader - he outlined his vision for Thai tourism at ITB Berlin. [Time]
We discussed Thailand’s Tourism Salesman in Friday’s edition of The South East Asia Travel Show, entitled The Top 8 Travel & Tourism Talking Points in South East Asia in Q1 2024.
Assessing South East Asia’s Air Travel Recovery 4 Years After the Declaration of a Pandemic
On 11 March, the 4th anniversary of the WHO declaring a pandemic, Brendan Sobie, Founder of Sobie Aviation, joined me on The South East Asia Travel Show to discuss the current state of South East Asia's air travel recovery. We assess domestic and international recovery rates, the latest on air fares and the 'honeymoon' period for airline profits. Plus, we look at Asia Pacific’s 5 busiest international airports. And, we analyse the outlook for China and India, influential markets such as the Middle East, Central Asia, Japan, South Korea and Australia, and intra-ASEAN air travel trends.
Listen to 'Assessing South East Asia’s Air Travel Recovery 4 Years After the Declaration of a Pandemic’ here:
Or search for The South East Asia Travel Show on any podcast platform
And, that’s a wrap for Issue 133.
The Asia Travel Re:Set newsletter will return next Sunday.
Until then, find me at LinkedIn and The South East Asia Travel Show
Happy travels,
Gary