Surge in Chinese Tourists Revives Asia to Pre-Pandemic Glory

Chinese tourists flocked to tourist sites across Asia during the Lunar New Year holiday, with the number of tourists and spending in destinations like Singapore, Thailand, and Malaysia surpassing pre-pandemic levels. The influx of Chinese travelers to Southeast Asian countries without visas bolsters travel movement and indicates a strong recovery in travel since Beijing lifted strict COVID-19-related restrictions in early 2023, which had kept China's borders largely closed for three years. HSBC Bank stated in a research note, "Despite macroeconomic headwinds, we believe Chinese citizens are still willing to spend on travel." Bookings to Singapore, Thailand, and Malaysia surged by more than 30 percent from February 10 to 17 compared to 2019, according to the travel site Trip.com, with an increase in Chinese visitors to Hong Kong, Macau, Japan, and South Korea as well.