Full Tourism Recovery in APAC Forecast for Early 2025
Skift Take
Fitch Ratings projects China outbound tourism to the Asia Pacific region will recover to 86% of pre-Covid levels in 2024, with full APAC tourism recovery expected by the first half of 2025.
Fitch Ratings said China outbound tourism to countries in the Asia Pacific region is projected to recover to 86% of pre-Covid levels in 2024. Chinese tourist spending will continue to be restrained. Fitch expects recovery in APAC tourism to continue in 2024 but at a slower pace due to less favorable base effects. Fitch expects visitation in APAC to reach 92% of 2019 levels while nominal international tourism receipts will exceed 2019 by 6%. China visitation recovery remains slightly slower due to its later reopening. They expect the APAC recovery to be fueled by robust demand, economic resilience, additional flight capacity, policy efforts to reignite tourism and depreciated local currencies. Fitch expects full APAC tourism recovery to occur in 1H25 but the risks are a slow restoration of international air traffic, elevated airfares and energy prices, and heightened geopolitical tensions.
The Hong Kong Tourism Board reported an 80% increase in visitor arrivals for the fir
