The Future of Chinese Tourism: Banyan Tree Holdings Founder Predicts a Strong Rebound

Chinese Travelers Expected to Return, Says Banyan Tree Holdings Founder

According to Banyan Tree Holdings founder Ho Kwon Ping, the decrease in Chinese travelers is not a cause for concern. In an interview with , he expressed confidence that they will eventually return. Ho explained that the decline is only temporary and that industry experts predicted a rebound in Chinese tourism around this time. He also mentioned that the current absence of mass group tours has been offset by an increase in free individual travelers who are willing to pay higher airfares.

Ho is optimistic about the tourism market within China. He highlighted the Chinese government’s emphasis on consumption-based growth and its positive impact on tourism. He believes that tourism has a significant trickle-down effect and contributes to economic growth.

China’s Property Market

Addressing concerns about China’s real estate market, which accounts for about 30% of the country’s economy, Ho dismissed the notion of a collapse. He explained that Chinese banks play a significant role in lending money, ensuring stability. Ho also mentioned that the demand for modern housing in China is still high, indicating a strong market.

“We’re comfortable with a China real estate story, because we had a number of hotels in China which were all sold prior to the property bubble.”

Ho Kwon Ping

Banyan Tree Holdings

Ho further supported his confidence in China’s real estate market by referencing his company’s prior success in selling hotels before the property bubble. He mentioned that despite some companies facing challenges, such as Country Garden, the overall demand for housing remains high.

Promoting Understanding Between China and the United States

Ho believes that Singapore, where his hospitality brand is headquartered, can play a crucial role in easing geopolitical tensions between China and the United States. He emphasizes that China’s rise should be seen as the rise of an entire civilization and not a threat to the West. Ho suggests that the current global order, dominated by the West, is not sustainable in the long run. He envisions a future where multiple great civilizations coexist and urges a shift in perspective from an economic and political standpoint.

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