Asia-Pacific Airlines Struggle to Recover Without Big-Spending Chinese Tourists
-
Absent Chinese tourists are weighing on Asia-Pacific airlines' recovery as regional travel demand lags behind other regions.
-
Volatile oil prices, cost-of-living crises, high inflation, and China's economic downturn have muted the expected "revenge travel" boom in Asia.
-
Carriers like Singapore Airlines are recovering faster than others, but the industry is hampered by uneven demand, currency fluctuations, supply chain issues, and pilot shortages.
-
Airlines are pivoting away from over-reliance on Chinese travelers towards other large markets like India, but analysts doubt they can fully replace Chinese spending power.
-
Consumers are booking trips earlier to get deals or waiting last-minute hoping for price drops, as economic uncertainty shapes travel preferences towards more advance planning.