Chinese Tourist Numbers Remain Below Pre-COVID Levels.
Bookings for overseas trips during China's upcoming May Day holiday have increased by 157% from the beginning of April, according to Ctrip. However, the numbers are still far below pre-COVID levels due to supply-side constraints in the air industry and tourism sector in destination countries. Flights to Europe are up to 80% more expensive than before the pandemic, while trips to Japan and South Korea have only recovered to 5%-10% of February 2019 levels. Chinese tourists used to make up a significant portion of arrivals in Southeast Asian countries, and their return is crucial for regional economies.