As Chinese shoppers trickle back to tourist hotspots for the Lunar New Year holidays, malls from Macau to Bangkok aim to lure them into stores with red lantern displays, special dances to mark the Year of the Rabbit – and discounts. | Reuters
Many resorts on the gaming hub’s Las Vegas-style strip have been sold out for the Lunar New Year period, hotel executives said.
DS Kim, an analyst at JPMorgan in Hong Kong, said the outlook for Lunar New Year in Macau was brighter than expected based on hotel availability, with a recovery to 50% of 2019 demand possible versus an earlier forecast of 35% to 40%. Since December, the mall’s outlet for Kering’s Gucci store has seen an influx of Chinese tourists, now the second-biggest clients behind locals, according to a staff member who was not authorized to speak with media.Still, destinations elsewhere show that the return of Chinese tourists remains at a very early stage. Fresh COVID-19 testing requirements for Chinese tourists in some locations may be acting as a barrier while some countries also require visas that take time to process.
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