China has implemented a game-changing 10-day visa-free policy for travelers from over 50 countries, including the US, to boost tourism. This follows a previous 72-144 hour visa-free transit policy and aims to revitalize the tourism sector after COVID-19 lockdowns. The policy also includes 30-day visa exemptions for 38 countries, facilitating business and cultural exchange.
The IMF released another tranche of its bailout package to Sri Lanka, signaling a fragile economic recovery. However, significant debt restructuring with both bondholders and bilateral creditors remains critical for the country’s long-term stability.
The global business travel market is poised for explosive growth, projected to reach $2.1 trillion by 2031. This surge is driven by technological advancements, the rise of ‘bleisure’ travel, and a post-pandemic recovery. Learn about the key factors influencing this booming sector and the leading players shaping its future.
Sri Lanka’s newly elected president, Anura Kumara Dissanayake, is poised to lead his leftist party to a sweeping parliamentary victory on Thursday, garnering unexpected support from the nation’s business leaders. Dissanayake, known for his socialist ideology and admiration for figures like Karl Marx and Che Guevara, has gained the endorsement of the Ceylon Chamber of Commerce (CCC), who see his economic recovery plans as aligning with their interests. The election is anticipated to bring significant political shifts, as Dissanayake’s People’s Liberation Front (JVP) is expected to leverage its newfound influence to implement reforms and navigate the country’s ongoing economic crisis.
After a period of disruption due to political protests, international cruise ships are returning to New Caledonia. The first vessel, the National Geographic cruise ship, has docked at Lifou, marking a pivotal moment in the revival of the island’s tourism industry. This restart is crucial for the region’s economic recovery and reflects the collective efforts of local authorities, tourism operators, and the community to restore normalcy and highlight New Caledonia’s resilience.
Hong Kong, once a bustling global financial hub, is on the path to economic recovery. The government’s upcoming policy address is expected to introduce measures aimed at revitalizing key sectors, making Hong Kong a more attractive and affordable destination for tourists and travelers. This includes a potential reduction in liquor tariffs, revitalized retail offerings, and reforms to the real estate market, leading to enhanced travel experiences and greater affordability.
Thailand is gearing up for a significant influx of Chinese tourists during the upcoming Golden Week holiday, expecting a whopping 183,000 visitors. This represents an 88% recovery from 2019 levels, signaling a robust revival of the Thai tourism industry. The influx is projected to generate a substantial 5.1 billion Thai Baht in revenue, highlighting the pivotal role Chinese tourists play in Thailand’s economic resurgence.
India’s External Affairs Minister S. Jaishankar visited Sri Lanka, meeting with President Anura Kumara Dissanayake, Prime Minister Harini Amarasuriya, and other officials to discuss strengthening cooperation and deepening ties between the two nations. Jaishankar reaffirmed India’s commitment to supporting Sri Lanka’s economic recovery, highlighting the importance of continued collaboration in various sectors.
Shigeru Ishiba, Japan’s incoming prime minister, has indicated that the country’s monetary policy will remain accommodative, signaling the need to keep interest rates low to support economic recovery. This stance comes despite Ishiba’s previous criticisms of the Bank of Japan’s aggressive monetary easing. He also plans to implement a fiscal package to address rising living costs and aid low-income households.
Sri Lanka has restored its original online visa application system after a court ruling against a controversial outsourcing deal. The move aims to attract more tourists and boost the tourism sector, a vital part of the country’s economic recovery.
