The tourism industry stands to benefit from China’s recovery with mainland nationals now free to travel without restrictions for the first time in three years, Moody’s Analytics said. READ:
THE tourism industry stands to benefit from China’s recovery with mainland nationals now free to travel without restrictions for the first time in three years, Moody’s Analytics said.
He also said Chinese tourists will likewise visit Malaysia, Indonesia, and Singapore, while Australia and New Zealand will see a return of Chinese university students. The DoT is targeting 4.8 million international visitors this year, still well below the 8.26 million international arrivals posted in 2019, the last full year before the pandemic.“China’s manufacturing rebound will be driven by improved domestic demand this year. While not as potent as its more powerful export engine, it will create demand for goods from the APAC region,” Mr. Cochrane said.
In the Philippines, inflation accelerated to a 14-year high of 8.7% in January from 8.1% in December. This marked the 10To curb inflation, the BSP raised its benchmark interest rate by 50 basis points to its highest level in nearly 16 years. The bank has signaled more tightening at its coming meetings.
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