Where the bloody hell are you? (China)
China's reopening will likely have a profound impact on Australian tourism and education. But where are all the Chinese tourists?
.png)
Macrobond Financial
China held firm to its Zero-COVID strategy in 2022 and the effects were felt far beyond its borders, impacting everything from global supply chains to trade and travel. And Australia was no exception. Now China's reopening will have important implications for Australia in two key areas: international education and tourism.
Pre-COVID China was Australians single largest source for tourism revenue based on spending data from Tourism Research Australian. In 2019 visitors from China accounted for roughly 25% of all tourist spending.
Now borders are reopening, where are all the Chinese tourists? The ABS publishes monthly data on Chinese tourist arrivals but unfortunately this is released months in arrears. The chart below shows that as of yet hardly any Chinese tourists are arriving in Australia and so the total number of tourists arriving in Australia is far below 2019 levels.
But hope can be seen in data related to the number of Chinese students expected to return to Australia. More than 200,000 visas have been granted to foreign students in the three months to January and more than 75,000 students have already arrived according to the department of home affairs.
Unfortunately this data isn't broken up by country of origin but given Australia's status as a popular destination for Chinese students before the pandemic it's highly likely this is an early indication that Chinese students and tourists will be returning soon.
Never miss an update
Enjoy this wire? Hit the ‘like’ button to let us know.
Stay up to date with my current content by
following me below and you’ll be notified every time I post a wire
Macrobond delivers the world’s most extensive macroeconomic & financial data alongside the tools and technologies to quickly analyse, visualise and share insights – from a single integrated platform. Our application is a single source of truth for all your data needs. In addition to our core database, the platform also provides a direct connection to third-party premium providers & even your own proprietary & internal data.
Macrobond’s analytics & visualisation tools streamline building & updating charts, saving hours of repetitive work manually recreating assets each time new data is released. Whether you’re an asset allocator or portfolio manager we enable you to collaborate effectively across your organisation and with your clients.
........
All written and electronic communication from Macrobond Financial AB is for information or marketing purposes and does not qualify as substantive research.
All opinions expressed in Macrobond webinars are those of the presenters and do not reflect the views of Macrobond Financial AB.
The views and opinions expressed here are those of the author/s and may not represent the views of the company.
.png)
4 topics
3 stocks mentioned
Macrobond Financial
Macrobond delivers the world’s most extensive macroeconomic & financial data alongside the tools and technologies to quickly analyse, visualise and share insights – from a single integrated platform. Our application is a single source of truth for...
Expertise
Macrobond Financial
Macrobond delivers the world’s most extensive macroeconomic & financial data alongside the tools and technologies to quickly analyse, visualise and share insights – from a single integrated platform. Our application is a single source of truth for...
Expertise
Comments
Comments
Sign In or Join Free to comment
most popular
Equities
The 7 zombie companies lurking on the ASX 300
Livewire Markets
Education
Warren Buffett’s 25 biggest mistakes – and 4 lessons they teach
Leithner & Company Ltd