Finance & economics | Mixing business with pleasure

Why more Chinese tourism means more capital flight

Many billions of dollars escape under the cover of holidays

Thailand Set To Welcome Chinese Tourists To Boost The Country s Economy. Tourists visit the Emerald Buddha Temple inside the Grand Palace in Bangkok, Thailand, 08 January 2023. Thailand is expected to welcome the return of Chinese tourists without special COVID-19 health restrictions to be imposed on Chinese visitors, aimed to boost the country s economy and recover the tourism industry after China s government easing travel restrictions. Bangkok Bangkok Thailand PUBLICATIONxNOTxINxFRA Copyright: xAnusakxLaowilasx originalFilename: laowilas-notitle230108_np4dg.jpg — Image: IMAGO

Feb 16th 2023|Hong Kong

A railway tour of Laos, a trip to the far corner of Russia to see the Northern Lights, or a polar cruise in the Arctic. These are some of the adventurous options being marketed in China as the country reopens. The urge to travel seems strong: Ctrip, a travel agent, has reported a quadrupling of inquiries in the space of a month; students are searching more for study-abroad opportunities, too. In Macau, a gambling centre, two of the fanciest hotels are fully booked this month. If pre-pandemic patterns reassert themselves, China’s travel spending could increase by $160bn this year, according to Natixis, a bank.

This article appeared in the Finance & economics section of the print edition under the headline “In full flight”