{"id":251377,"date":"2022-03-26T09:33:14","date_gmt":"2022-03-26T04:33:14","guid":{"rendered":"https:\/\/leadpakistan.com.pk\/news\/?p=251377"},"modified":"2022-03-26T09:33:14","modified_gmt":"2022-03-26T04:33:14","slug":"chinas-tourism-recovery-slows-on-covid-restrictions-fitch","status":"publish","type":"post","link":"https:\/\/leadpakistan.com.pk\/news\/chinas-tourism-recovery-slows-on-covid-restrictions-fitch\/","title":{"rendered":"China\u2019s tourism recovery slows on Covid restrictions: Fitch"},"content":{"rendered":"<p> SHANGHAI<br \/>\nChina\u2019s tourism sector recovery has slowed since mid-2021 and will remain volatile in 2022 as a result of travel restrictions amid a resurgence of Covid-19 cases, Fitch Ratings said in its latest China Corporates Snapshot report on Friday.<br \/>\nAccording to Fitch Ratings, domestic tourist numbers and revenue in 2021 declined to around 50% of pre-pandemic levels from over 60% in 1H21 and remained weak entering into 2022.<br \/>\nFitch believes the government\u2019s Covid-19 policies are largely driving the sector\u2019s recovery path and an escalation in virus cases could weigh on tourism activities, putting a drag on China\u2019s economic recovery.<br \/>\nTourism &#8211; which contributed 11% of China\u2019s total GDP in 2019 &#8211; has been fuelling China\u2019s economic growth. The pace of tourism growth has outperformed total GDP since 2014, except in 2020.<br \/>\nThe report said that still, China\u2019s tourism sector recovery is uneven. Leisure travel has recovered rapidly as travel preferences shifted towards short-distance, high-quality vacations and family entertainment, such as theme parks. In the scenic spots market, which generally targets non-local tourists, the recovery has been much slower. Scenic spots have faced higher operational volatility because the destinations are more affected by cross-provincial travel restrictions.<br \/>\nFitch believes travel restrictions remain a key business risk for scenic spot operators in 2022. That said, publicly listed market leaders\u2019 liquidity buffers are generally robust and their debt burdens are low, as many had strong pre-Covid balance sheets, and scenic spot operations are highly cash generative and have low capex requirements.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>SHANGHAI China\u2019s tourism sector recovery has slowed since mid-2021 and will remain volatile in 2022 as a result of travel restrictions amid a resurgence of Covid-19 cases, Fitch Ratings said in its latest China Corporates Snapshot report on Friday. According to Fitch Ratings, domestic tourist numbers and revenue in 2021 declined to around 50% of [&hellip;]<\/p>\n","protected":false},"author":2,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[5],"tags":[],"class_list":{"0":"post-251377","1":"post","2":"type-post","3":"status-publish","4":"format-standard","6":"category-business"},"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v27.4 - https:\/\/yoast.com\/product\/yoast-seo-wordpress\/ -->\n<title>China\u2019s tourism recovery slows on Covid restrictions: Fitch<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/leadpakistan.com.pk\/news\/chinas-tourism-recovery-slows-on-covid-restrictions-fitch\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"China\u2019s tourism recovery slows on Covid restrictions: Fitch\" \/>\n<meta property=\"og:description\" content=\"SHANGHAI China\u2019s tourism sector recovery has slowed since mid-2021 and will remain volatile in 2022 as a result of travel restrictions amid a resurgence of Covid-19 cases, Fitch Ratings said in its latest China Corporates Snapshot report on Friday. According to Fitch Ratings, domestic tourist numbers and revenue in 2021 declined to around 50% of [&hellip;]\" \/>\n<meta property=\"og:url\" content=\"https:\/\/leadpakistan.com.pk\/news\/chinas-tourism-recovery-slows-on-covid-restrictions-fitch\/\" \/>\n<meta property=\"og:site_name\" content=\"Daily Lead Pakistan\" \/>\n<meta property=\"article:publisher\" content=\"https:\/\/www.facebook.com\/DailyLeadPak\/\" \/>\n<meta property=\"article:published_time\" content=\"2022-03-26T04:33:14+00:00\" \/>\n<meta name=\"author\" content=\"Web Desk\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:creator\" content=\"@DailyLeadPak\" \/>\n<meta name=\"twitter:site\" content=\"@DailyLeadPak\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"Web Desk\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"1 minute\" \/>\n<script 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