Millions of Chinese Staying Home Curb Southeast Asian Growth
- Visitor numbers suggest region’s economic recovery to be muted
- Slower increase in flight capacity acting as a drag on tourism
Bali, one of the most popular holiday destinations that accounts for the bulk of Indonesia’s total foreign visitors, saw demand for luxury hotels drop in the January-May period.
Photographer: Nyimas Laula/BloombergThis article is for subscribers only.
Southeast Asian nations that were counting on Chinese travelers to drive tourism revenues and their economies post-Covid are finding the flow of visitors far from the flood they were hoping for.
China’s slower-than-expected economic recovery has left its population more hesitant to spend money heading abroad. The result: the number of Chinese arrivals in five Southeast Asian countries varied between 14% and 39% in May compared to the 2019 numbers, latest official data compiled by Bloomberg News show.