January 30 2024  |  Industry News

Wellness, events and eco-tourism current trends in Asia travel

By Hibah Noor

Trip.com CEO Jane Sun says investors should not overlook the thriving travel, wellness or entertainment sector in China

Jane Sun, CEO of Trip.com recently expressed a positive outlook on Asia's growth trajectory and discussed its investment appeal during a session titled "Asia – the world’s next growth anchor?" at the World Economic Forum (WEF) Annual Meeting in Davos, Switzerland.

The event brought together key figures from various sectors to explore the principles of building trust amidst a fragmented and uncertain global context. The discussion focused on the burgeoning opportunities and challenges in Asia, with Sun sharing the stage with other notable figures such as Roy Gori of Manulife, Geoff Lee from Khazanah Nasional. The session was moderated by Ben Hung of Standard Chartered Bank.

Sun noted her company has seen a significant uptick in travel bookings to Asia, with Thailand, Japan, and South Korea arising as especially popular destinations. The region is witnessing trends like premium wellness experiences and event tourism, driven by increasing consumer incomes. She noted a growing emphasis on sustainable tourism, with over 16 million customers opting for eco-friendly travel choices through Trip.com Group.

China potential

Sun highlighted China's promising investment landscape, especially in travel, wellness and entertainment sectors. She emphasized China's diverse market and investment potential, especially in the travel industry, which is seeing a surge in both inbound and outbound travel and benefiting from supportive policies.

Recent policy changes, such as expanded visa-free travel and increased flight capacities, have boosted international travel to and from China. Notably, visa-free policies have been extended to nationals from several countries, significantly impacting travel searches and bookings on Trip.com Group's platform, particularly in anticipation of the Chinese New Year.

Sun remains optimistic about Asia's economic outlook, projecting it to account for half of the global GDP growth. The thriving tourism sector and strong consumer purchasing power in Asia suggest a promising future for sustained growth in the region. Sun stated, “Investors should not overlook the thriving travel, wellness or entertainment sector in China. With its vast size, diverse industries, and varying levels of consumer buying power, the investment opportunities are abundant.”

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