Regional tourism growth may slow in H2, but China’s contribution to rise further

INBOUND travel into Asean destinations will likely continue to improve in the second half of this year, albeit at a slower pace compared with last year and the first six months of 2023, said market watchers.

The continued pick-up in tourism “will provide some buffer to growth and current account balances in the region, especially as the goods export outlook remains lacklustre”, said OCBC senior Asean economist Lavanya Venkateswaran in a report.

China, in particular, will be a major contributor to the region’s tourism receipts.