China Resumes Outbound Tourism Services to 40 Countries

We track scheduled flights (what’s planned) and tracked flights (what took off) from a sample of the largest airports across the world.

Looking at data up to 13 March 2023:

• Global departures continue to climb, currently at 109,000 per day, similar to 2019 levels (Chart 1).
• China is approaching normality. Starting from 15 March, China will resume issuing all visas to foreign nationals while certain areas of the country will allow visa-free entry, such as Hainan Island and Shanghai Port. Starting on the same day, agencies will be allowed to offer outbound group tours and similar services for Chinese citizens to 40 countries.
• Elsewhere, the number of departures in Europe (-4.2% WoW) fell as strikes continued with Paris leading the way lower. The number of departures progressed from the US (+3.5% WoW).

Information on long-term movements in flight data is available below.

China

Japan

Hong Kong

South Korea

Singapore

Thailand

US

UK

Italy

Spain

Germany

France

Canada

Bilal Hafeez is the CEO and Head of Research at Macro Hive. He spent over twenty years doing research at big banks – JPMorgan, Deutsche Bank, and Nomura, where he had various “Global Head” roles and did FX, rates and cross-markets research.

Ben Ford is a Researcher at Macro Hive. Ben studied BSc Financial Mathematics at Cardiff University and MSc Finance at Cass Business School, his dissertations were on the tails of GARCH volatility models, and foreign exchange investment strategies during crises, respectively.

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