According to the National Travel and Tourism Office, Chinese travelers spent nearly RMB 2.3 trillion ($321 billion) on travel to and tourism-related activities within China in the first half of the year, up 95.9 percent year over year.

Fitch Ratings’ analysis has found that Chinese travelers had less per-trip spending during the Labor Day holiday, which the market took as an indication of “weaker consumer confidence and spending power”, as China’s domestic tourism levels outperformed 2019.

SkyCity expects normalised EBITDA0) of between $135 -140 million and Group normalised NPAT0) of between $3.5 - 7 million, in a submitted Earnings Guidance for FY22 note. 

Fitch Ratings said it expects China’s tourism sector recovery to remain volatile in 2022 as a result of travel restrictions amid a resurgence of Covid-19 cases. 

Covid has triggered a major tourism reset across Asia, with governments forced to pivot to the domestic market, which prior to the pandemic received little support in terms of finance and marketing.

Hotel and tourism experts in Ho Tram, Nha Trang, Cam Ranh, and Da Nang in Vietnam are expecting to see gradual recovery of its tourism industry starting from the end of July, with tourists mainly flowing from Hanoi for the long summer holidays. 

The ramp up of Crown’s new casino in Sydney will be slowed from the lack of a China VIP market, says Fitch in a report. Border closures until 2022, a ban on junkets and the Aus-China trade war means that Chinese VIP won’t be returning to pre-pandemic levels anytime soon.

Covid has triggered a major tourism reset across Asia, with governments forced to pivot to the domestic market, which prior to the pandemic received little support in terms of finance and marketing.

Australia-listed SkyCity Entertainment Group has flagged normalized NPAT of between $84-88 million for the financial year ending June 30, provided there are no more property closures for the remainder of the month.

The Philippines’ target to double its gross gaming revenue by 2028 seems to gain support from its recently released statistical data.