Home AsiaASEAN China Thailand Visa-Free Travel: A Win-Win for Tourism and Trade

China Thailand: With . Thai Prime Minister Srettha Thavisin, in a video message, warmly welcomed Chinese tourists, acknowledging their significant contribution to Thailand’s inbound tourism. This follows the recent mutual visa exemption agreement signed between China and Thailand, set to take effect from March 1.

Chanapan Kaewklachaiyawuth, Vice President of the Thai Chinese Tourism Alliance Association, expressed excitement, noting that the visa exemption will not only facilitate travel but also serve as a mechanism to boost economic gains. The association anticipates between 200,000 and 250,000 Chinese tourists entering Thailand during this year’s Spring Festival holiday.

In 2024, Thailand aims to attract 8 million tourists from China, doubling the 2023 figure and constituting 75% of the pre-pandemic peak in 2019. Singapore, which also signed a visa-free agreement with China, experienced a tourism sector recovery in 2023, with the Chinese mainland leading in tourist spending. The city-state anticipates further tourism recovery in 2024, driven by improved global flight connectivity and the mutual 30-day visa-free travel with China.

Thai Stocks in the Hotel Sector

  1. Minor International PCL (MINT)
    • Business: Diversified hospitality and leisure company.
  2. Central Plaza Hotel PCL (CENTEL)
    • Business: Operates hotels, restaurants, and food businesses.
  3. Dusit Thani PCL (DTC)
    • Business: Engaged in hotel and resort operations.
  4. The Erawan Group PCL (ERW)
    • Business: Operates hotels, resorts, and provides hospitality services.
  5. Bangkok Dusit Medical Services PCL (BDMS)
    • While primarily a healthcare company, it has interests in the hospitality sector, including hotels.

China’s tourism bureaus are actively promoting local attractions, employing innovative strategies to entice visitors. Cities like Harbin leverage their unique features, such as ice and snow tourism, resulting in record-high visitor numbers and tourism revenue.

Bookings for domestic and overseas destinations during the Spring Festival holiday have surged on platforms like Alibaba’s Fliggy. Countries like Thailand, Malaysia, and Singapore waiving visa requirements have sparked enthusiasm for overseas travel, leading to a renaissance for both individual and group tours.

Looking ahead, 2024 is poised to be a significant year for China’s tourism industry, entering a new prosperous cycle, according to the China Tourism Academy. Chinese tourists are expected to make over 6 billion domestic trips, up from nearly 4.9 billion in 2023. Outbound trips are projected to reach 130 million, a substantial increase from over 87 million in the previous year.

The United Nations World Tourism Organization (UNWTO) predicts a return to pre-pandemic levels in international tourism by the end of 2024. The unleashing of remaining pent-up demand, increased air connectivity, and a stronger recovery of Asian markets are expected to underpin this full recovery. The China-Thailand visa-free arrangement stands as a testament to the positive momentum in global tourism and trade.

Shayne Heffernan

You may also like


Your Trusted Source for Capital Markets & Related News

© 2024 LiveTradingNews.com – For The Traders, By The Traders – All Right Reserved.

The information contained on this website shall not be construed as (i) an offer to purchase or sell, or the solicitation of an offer to purchase or sell, any securities or services, (ii) investment, legal, business or tax advice or an offer to provide such advice, or (iii) a basis for making any investment decision. An offering may only be made upon a qualified investor’s receipt not via this website of formal materials from the Knightsbridge an offering memorandum and subscription documentation (“offering materials”). In the case of any inconsistency between the information on this website and any such offering materials, the offering materials shall control. Securities shall not be offered or sold in any jurisdiction in which such offer or sale would be unlawful unless the requirements of the applicable laws of such jurisdiction have been satisfied. Any decision to invest in securities must be based solely upon the information set forth in the applicable offering materials, which should be read carefully by qualified investors prior to investing. An investment with Knightsbridge is not suitable or desirable for all investors; investors may lose all or a portion of the capital invested. Investors may be required to bear the financial risks of an investment for an indefinite period of time. Qualified investors are urged to consult with their own legal, financial and tax advisors before making any investment. Knightsbridge is a private investment firm that offers investment services to Qualified Investors, Members and Institutions ONLY. Qualified Investors are defined as individuals who have met those Qualifications in the relevant jurisdictions. Members are defined as individuals who have been accepted into the Knightsbridge membership program. Institutions are defined as entities such as banks, pension funds, and hedge funds. If you are not a Qualified Investor, Member or Institution, you are not eligible to invest with Knightsbridge. All investments involve risk, and there is no guarantee of profit. You may lose some or all of your investment. Past performance is not indicative of future results. Knightsbridge is not a registered investment advisor, and this disclaimer should not be construed as investment advice. Please consult with a qualified financial advisor before making any investment decisions. By accessing this website, you agree to the terms of this disclaimer. Thank you for your interest in Knightsbridge.