Popular Southeast Asian destinations like Singapore, Thailand, and Malaysia witnessed a surge in tourist arrivals and spending during the recent Chinese New Year, exceeding pre-pandemic levels. This travel boom is attributed to relaxed visa requirements for Chinese travellers in Southeast Asia, following China’s easing of strict COVID-19 measures in early 2023. While China’s economic slowdown and volatile financial markets pose challenges to the global travel recovery, this growth is a welcome boost for tourism-dependent economies.
Despite economic uncertainties, analysts report Chinese consumers remain eager to spend on travel experiences. Bookings to popular destinations like Singapore, Thailand, and Malaysia increased by over 30% compared to 2019, according to Trip.com. Additionally, a notable rise in visitors from China was observed in Hong Kong, Macau, Japan, and South Korea.
Contributing to the increase was the extended eight-day Chinese New Year break in 2024, a day longer than in 2019. Visa waivers resulted in a significant rise in hotel bookings, with Bangkok experiencing a threefold increase and Singapore witnessing a ninefold increase during the holiday period.
Mobile payments platform Alipay recorded a 7.5% increase in spending across Singapore, Thailand, and Malaysia compared to 2019, nearly seven times higher than the previous year. However, overall consumer spending remains below pre-pandemic levels at around 82%.
Chinese travellers are also venturing to new destinations, with the Middle East experiencing a surge in tourist numbers. Saudi Arabia saw a more than nine-fold increase compared to 2019, while bookings to the United Arab Emirates jumped by 60%.
Macau, known for its casinos, attracted over a million Chinese tourists during the holidays, with hotel occupancy reaching 95%. Major casino operators like Sands China and Wynn Macau are expected to benefit from this tourism surge, with daily gross gaming revenues projected to exceed $124 million.
Over 1.2 million Chinese tourists visited Hong Kong during Chinese New Year, pushing hotel occupancy to 90%. Similarly, duty-free sales in Japan have increased, partly due to the influx of holidaymakers.
The trend towards experiential travel is evident with Chinese tourists spending more on food, beverages, and visiting tourist attractions abroad. Overseas car rentals and scenery tickets have also seen a significant rise compared to pre-pandemic levels.
