![]() ![]() ![]() Thailand welcomed Chinese tourists with “red carpet services,” where the Deputy Prime Minister of Thailand was sometimes present and personally handed over flower necklaces to Chinese tourists. Thailand, for instance, welcomed them with “ red carpet services ,” where the Deputy Prime Minister of Thailand was sometimes present and personally handed over flower necklaces to Chinese tourists, and the airport staff distributed souvenirs. Unlike Japan and Korea, the two countries greeted Chinese tourists warmly. Search interest for Thailand and Singapore rose respectively by 176 and 93 percent. Yet, the most popular destinations have shifted. The market’s relaxed COVID restrictions have fueled hopes of a revenge travel and shopping spree.Īccording to travel agency Ctrip, locals’ search interest for outbound flights grew by 83 percent in the 11 days after the announcement compared with the 14 days before it. ![]() LVMH’s shares rose by 2.7 percent, while Richemont’s jumped by 4 percent. The Jing Take: In late December 2022, the news of China’s borders reopening on January 8 sent luxury stocks up. In response, it suspended issuing short-term visas to individuals from South Korea and Japan in retaliation for the COVID restrictions on Chinese travelers. Image: WeiboĬhina’s government condemned the neighboring countries’ actions, blasting them as discriminatory policies. Recently, South Korea issued yellow tags for China’s inbound travelers to wear at its airports, and Japan followed suit. ![]()
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