The Year of the Rabbit that begins on Sunday will see a revival in outbound tourism from China that we expect to be stronger than recoveries seen elsewhere. China is reopening into a world that has already dismantled most virus controls. Its state-owned airlines have kept most of their capacity operating. And after three years of isolation, there’s plenty of pent-up demand for foreign travel. We expect outbound tourism to have recovered from virtually nothing to 75% of the pre-pandemic level by the end of 2023.
Asia Drop-In (Thursday, 26th Jan): What do the latest data say about how China’s economy will fare in the Year of the Rabbit? Are Asia’s central bankers done with tightening? What next for the region’s markets? Join this 20-minute briefing to hear from our economists and get your questions answered. Register now.
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