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New Delhi [India], August 4 (ANI): India's <keyword id="21307504" type="General" weightage="100" keywordseo="outbound-tourism" source="keywords">outbound tourism</keyword> market is expected to reach USD 18817.72 million (USD 18.81 billion) in 2024 and grow at a <keyword id="20256055" type="General" weightage="20" keywordseo="CAGR" source="keywords">CAGR</keyword> of 11.4 per cent in the decade between 2024 and 2034 to reach approximately USD 55388.41 million (USD 55.38 billion), highlighted a FICCI-Nangia knowledge paper. The paper titled '<keyword id="22661864" type="General" weightage="20" keywordseo="Navigating-Horizons" source="Orion">Navigating Horizons</keyword>: <keyword id="22661865" type="General" weightage="20" keywordseo="The-Rise-and-Future-of-Indian-Outbound-Tourism" source="Orion">The Rise and Future of Indian Outbound Tourism</keyword>', released during the '3rd Outbound Tourism Summit' here in the FICCI office earlier this week, asserted that few emerging markets and opportunities for outbound <keyword id="19916662" type="General" weightage="20" keywordseo="travel" source="keywords">travel</keyword> include various Southeast Asian, Middle Eastern, African and Eastern European countries. India's online travel market, which consists of sales of travel services through online channels, is expected to grow at a CAGR of 10.5 per cent between 2024-29, from USD 17.24 billion to USD 28.40 billion. International travel has thus been eased by the steady growth in affordable technology, states the paper. It further states that the government administration and the tourism industry stakeholders in India may undertake various strategic interventions to promote the outbound tourism market. These include bilateral engagement; improved connectivity; support to travel industry stakeholders; marketing of international destinations; curated packages; and hospitality partnerships, among others. Speaking at the launch of the report, Mary M Mutuku, Deputy High Commissioner of Kenya to India said that Kenya is not only committed to deepen the relations between India and Kenya but also promoting Kenya as a preferred tourist destination. "Currently, the India market is among the top 5 Kenya's key sources of tourists, and this has the potential to grow even further," she said in her brief address. To attract more <keyword id="110519" type="General" weightage="20" keywordseo="Indian-tourists" source="Orion">Indian tourists</keyword> to Kenya, Mutuku stated that Kenya has put in place the necessary infrastructure to ease travel in the country. "With an increase in the number of flights between the two countries along with the opening of the Nairobi Expressway, tourists will have more convenience traveling in Kenya. A new cruise terminal at Mombasa port is a major boost to cruise tourism. The berth targets to enhance passenger handling capacity as well as allow for an increased volume of cruise ships arrival at the port," she added. Seitenov Darkhan, Deputy Ambassador, Embassy of Kazakhstan to India had said, "We have huge potential for mutual and beneficial cooperation in the tourism sector. There has been significant growth in the number of tourists coming to Kazakhstan from India which is also due to offering 14 days visa-free regime for Indian tourists along with an increase in a number of direct flights." While highlighting the investment potential for Indian industry, Darkhan further said that in order to meet the needs of Indian tourists in Kazakhstan, it would be advisable to consider building a network of Indian hotels and restaurants in the major cities in Kazakhstan. "We invite major Indian investors to participate in implementing these initiatives in our country," he added. Geshan Dissanayake, Minister Commercial, High Commission of Sri Lanka in India said, "The strong shared heritage between India and Lanka forms the bedrock of our bilateral relationship. India alone stands out as a key source market for Sri Lanka. The integration of the Indian UPI payment system with 'LankaPay' has made simplified payment options for Indian tourists visiting Sri Lanka," he added. Dissanayake further stated that to fully realize the potential of outbound tourism there is a need to focus on marketing and promotion of various offerings by Sri Lanka; infrastructure development; promoting sustainable tourism and further streamlining the visa process. Working together, we can unlock the potential of outbound tourism between India and Sri Lanka," he added. Jyotsna Suri, Past President, of FICCI and CMD, The Lalit Suri Hospitality Group stated that any country has to have healthy inbound and outbound tourism. "<keyword id="644076" type="General" weightage="20" keywordseo="Indian-tourism" source="Orion">Indian tourism</keyword> has witnessed a major growth in the last few years and while we are at the threshold of massive growth, we must be cognizant of sustainability as well," she added. Ankush Nijhawan, Chairman, of FICCI Outbound Tourism Committee and Co-Founder, TBO.com and MD, of Nijhawan Group said that the global travel and tourism industry is expected to reach USD 2.6 trillion by 2027, growing at a CAGR of 8.2 per cent. "Traveler preferences are becoming increasingly diverse, and demand tailor-made travel services. Demographic boost, government support, increased connectivity, and niche segment growth are powering India's outbound travel boom," he added. Representatives from the Embassy of Madagascar to India, the Embassy of Georgia to India, the Malaysia Tourism Promotion Board, Singapore Tourism Board also shared their perspectives during the session.

Indian outbound tourism to reach USD 18817.72 million, grow at over 11% CAGR through 2034: FICCI-Nangia report

<ul class="summary-list"><li>This story was delivered to Business Insider Intelligence Payments &amp; Commerce subscribers earlier this morning.</li><li><a href="https://store.businessinsider.com/products/payments-commerce-pro-membership?IR=T&amp;itm_source=businessinsider&amp;itm_medium=content_marketing&amp;itm_campaign=briefing_post&amp;itm_content=top_text&amp;itm_term=bundle_subscription_text_link-mobile-payment-acceptance-key-to-chinese-tourism-opportunity-2020-1">To get this story plus others to your inbox each day, hours before they're published on Business Insider, click here.</a></li></ul>Chinese outbound tourism rose to approximately 81.3 million trips in the first half of 2019, up 14% year-over-year (YoY), per the Chinese Tourism Academy as cited in a <a href="https://e.businessinsider.com/click/19279096.4/aHR0cHM6Ly93d3cuYnVzaW5lc3N3aXJlLmNvbS9uZXdzL2hvbWUvMjAyMDAxMjAwMDU1OTMvZW4vTmllbHNlbi1SZXBvcnQtRmluZHMtT3ZlcnNlYXMtTWVyY2hhbnRzLUFjdGl2ZWx5LUV4cGxvcmluZw/5d233c18f730436f2414784fB94ee16fa" target="_blank" rel="noopener">report</a> from Alipay and Nielsen, presenting payments providers with a valuable chance to rack up volume and build loyalty.And considering the most popular factor that affects Chinese tourists' overseas shopping habits is the payment method (37%), which just beats out product quality (36%) and price (36%), payments companies' operations may matter as much as which merchants they work with.Forty-four percent of Chinese tourists in some popular travel destinations like the UK, Singapore, and South Korea use mobile payments most often while just 13% of their general tourist populations do the same, suggesting that accepting mobile payments internationally can help payments companies attract Chinese tourists' payment volume.Both Chinese and international payments firms have much to gain from winning over Chinese tourists with international mobile payment acceptance.Top Chinese payments firms have been chasing international acceptance in a bid to capture more volume and win consumers' loyalty. By being available at a variety of merchants overseas, Chinese payments firms can both garner tourists' international spending and possibly convince consumers to use their services more regularly, including in China, because they can rely on the services no matter where they're paying.That's why Alipay and WeChat Pay, which <a href="https://e.businessinsider.com/click/19279096.4/aHR0cHM6Ly9pbnRlbGxpZ2VuY2UuYnVzaW5lc3NpbnNpZGVyLmNvbS9wb3N0L2ZpbnRlY2gtZGlzcnVwdG9ycy1mcm9tLXRoZS1lYXN0LWFudC1maW5hbmNpYWwtYW5kLXRlbmNlbnQtYXJlLXJhcGlkbHktZ3Jvd2luZy10aGVpci1maW5hbmNpYWwtc2VydmljZXMtZWNvc3lzdGVtcy1oZXJlcy1leGFjdGx5LXdoYXQtdGhleS1vZmZlci1hbmQtd2hlcmUtd2UtdGhpbmstdGhleWxsLWdvLW5leHQtMjAxOS02/5d233c18f730436f2414784fB7c150fc7" target="_blank" rel="noopener">dominate</a> China's mobile payments market, have been <a href="https://e.businessinsider.com/click/19279096.4/aHR0cHM6Ly9pbnRlbGxpZ2VuY2UuYnVzaW5lc3NpbnNpZGVyLmNvbS9wb3N0L2FtYXpvbi1kZXZlbG9waW5nLWJpb21ldHJpYy1wYXltZW50LXRlcm1pbmFsLXdlY2hhdC1wYXktaGFzLWNoYW5jZS10by10aHJpdmUtaW4taW5kb25lc2lhLXZlbm1vLWFkZHMtbmV3LXN0aWNrZXJzLWZvci1pdHMtZmVlZC0yMDIwLTE/5d233c18f730436f2414784fBc12ef8a3" target="_blank" rel="noopener">working</a> to <a href="https://e.businessinsider.com/click/19279096.4/aHR0cHM6Ly9xei5jb20vMTU3MDA1Mi9hbnQtZmluYW5jaWFscy1hbGlwYXktaXMtZXhwYW5kaW5nLXJhcGlkbHktb3V0c2lkZS1vZi1jaGluYS8/5d233c18f730436f2414784fB41f2d7dd" target="_blank" rel="noopener">expand</a> their networks and why card network UnionPay is <a href="https://e.businessinsider.com/click/19279096.4/aHR0cHM6Ly9pbnRlbGxpZ2VuY2UuYnVzaW5lc3NpbnNpZGVyLmNvbS9wb3N0L3VuaW9ucGF5LXB1c2hpbmctbW9iaWxlLXBheW1lbnRzLW92ZXJzZWFzLWFtYXpvbnMtbWFya2V0cGxhY2UtY291bGQtc2VsbC1maW5hbmNpYWwtc2VydmljZXMtYWlmaS1yZXRyb2ZpdHMtc3RvcmUtd2l0aC1hdXRvbm9tb3VzLWNoZWNrb3V0LXRlY2gtMjAyMC0x/5d233c18f730436f2414784fB6ecf277a" target="_blank" rel="noopener">making</a> an international acceptance push that's focused on its mobile payments service.As international payments companies gain access to China, they should take advantage of their merchant acceptance networks to bring in volume. <a href="https://e.businessinsider.com/click/19279096.4/aHR0cHM6Ly9pbnRlbGxpZ2VuY2UuYnVzaW5lc3NpbnNpZGVyLmNvbS9wb3N0L2FtYXpvbi10YXJnZXRzLWx1eHVyeS1mYXNoaW9uLWFtZXgtY2xlYXJlZC1mb3ItY2hpbmVzZS1vcGVyYXRpb25zLWNoYXNlLXVwcy1zYXBwaGlyZS1mZWUtYW5kLXBlcmtzLTIwMjAtMSNJVEVNJTIwMg/5d233c18f730436f2414784fB661fafe8" target="_blank" rel="noopener">American Express</a> and <a href="https://e.businessinsider.com/click/19279096.4/aHR0cHM6Ly9pbnRlbGxpZ2VuY2UuYnVzaW5lc3NpbnNpZGVyLmNvbS9wb3N0L21hcnFldGEtaGFzLWJlY29tZS1hLXRvcC1pc3N1ZXItcGF5cmFpbHotZW5hYmxlcy1iaWxsLXBheS1leGNoYW5nZS1wYXlwYWwtY2xlYXJlZC1mb3ItY2hpbmEtZW50cnktMjAxOS0xMiNJVEVNJTIwMw/5d233c18f730436f2414784fB9408f46a" target="_blank" rel="noopener">PayPal</a> are on their way to operating in China, and a new <a href="https://e.businessinsider.com/click/19279096.4/aHR0cHM6Ly9pbnRlbGxpZ2VuY2UuYnVzaW5lc3NpbnNpZGVyLmNvbS9wb3N0L25ldy10cmFkZS1kZWFsLW1heS1oZWxwLXVzLXBheW1lbnRzLWZpcm1zLWVudGVyLWNoaW5hLWdvb2dsZS1ib29zdHMtYXBwYXJlbC1zZWFyY2gtY2FwYWJpbGl0aWVzLWViYW54LWxhdW5jaGVzLWRpZ2l0YWwtd2FsbGV0LTIwMjAtMQ/5d233c18f730436f2414784fBe1fc06d7" target="_blank" rel="noopener">trade deal</a> between China and the US may make it easier for more firms to enter the market as well.These firms will be dropped into a very competitive industry, but they may be able to attract Chinese consumers due to their established and extensive merchant acceptance networks: If these players can convince international merchants to accept mobile payments by talking up the value of attracting Chinese tourists, that would likely boost the payments' players volume in turn. Additionally, these companies need to ensure their payment options are available for use in mobile payment platforms that are already used by or easily accessible to Chinese tourists.But payments firms interested in the opportunity must pay close attention as China <a href="https://e.businessinsider.com/click/19279096.4/aHR0cHM6Ly93d3cubnl0aW1lcy5jb20vMjAyMC8wMS8yNS93b3JsZC9hc2lhL2NoaW5hLWNvcm9uYXZpcnVzLmh0bWw/5d233c18f730436f2414784fB6cf49d8b" target="_blank" rel="noopener">limits</a> outbound travel in the wake of the coronavirus outbreak. Travel and tours out of the country are being restricted, likely lessening the amount of payment volume available from tourists this year, especially since the outbreak is overlapping with China's Lunar New Year, which is traditionally a popular time for <a href="https://e.businessinsider.com/click/19279096.4/aHR0cHM6Ly9za2lmdC5jb20vMjAyMC8wMS8yNC93aGF0LXRoZS1jb3JvbmF2aXJ1cy1tZWFucy1zby1mYXItZm9yLXRoZS10cmF2ZWwtaW5kdXN0cnkv/5d233c18f730436f2414784fB5f5e43a7" target="_blank" rel="noopener">travel</a> and <a href="https://e.businessinsider.com/click/19279096.4/aHR0cHM6Ly93d3cudm94LmNvbS90aGUtZ29vZHMvMjAyMC8xLzIwLzIxMDY5NDc3L2x1bmFyLW5ldy15ZWFyLWJyYW5kcw/5d233c18f730436f2414784fBa4c7b31a" target="_blank" rel="noopener">spending</a>.This will not necessarily impact Chinese tourists' spending behaviors in the future, but payments firms would be wise to watch closely to manage expectations and see if any strategic adjustments need to be made.Want to read more stories like this one? 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As China's outbound tourism rises, mobile payments will be key to capturing Chinese tourists' spending

In an uncharacteristic response from an industry body which tend to be mellow in their take on government policies, the Federation of Associations in the Indian Tourism &amp; Hospitality (<keyword id="6389686" type="UNKNOWN" weightage="20" keywordseo="faith">FAITH</keyword>), said on Sunday that the Indian tourism industry has "gone into a state of disbelief and shock". This is the policy federation of all the national associations representing the complete tourism, travel and hospitality industry of India. <div type="Article" hostid="261" msid="75790707" title="Lockdown 4.0 ⁠— India issues new guidelines allowing states to decide the red, green, and orange zones" mstype="2" mssubtype="0"></div> "The industry has gone numb from a lack of any umbrella direction from the government or without any fiscal &amp; monetary support," it said. The industry body said, "Indian Tourism industry goes into a state of shock and disbelief as there were no announcements to support tourism, 10 weeks of constant discussions come to a naught and industry has gone directionless". With no visibility of cash inflows the Indian tourism industry is now looking at large scale bankruptcies, business closures which will lead to job losses across cities, towns and hinterlands of India. This has the potential to set back the Indian tourism, travel and hospitality industry by many years, it said. The body said that the Indian tourism industry was looking forward to deep set of survival measures for tourism from the Rs 20 lakhs crore package announced over 5 days, which however were not addressed. The Indian tourism, travel and hospitality sector impacts almost 10 per cent of GDP through its direct and indirect impact. It has already seen over one quarter of accumulated losses which began from February onwards. There is no cash inflow expected for many quarters over FY20-21 as the key segments of the Indian tourism economy will be down. The international inbound tourists, inbound and VFR - (visiting friends and relatives) and the outbound travel will remain mostly non-performing due to international flight restrictions and tragic impact in most key markets tourism markets of India, the association said. "Domestic travel and corporate travel within the country may slightly ease up post lockdown but will be highly restricted due to fear of travel among elders and children, the new social distancing norms, corporate travel freeze and the closure of the holiday season which will impacting all leisure, adventure, heritage, spiritual, cruise and niche tourism segments," it said. The meetings incentives exhibitions &amp; events segment will be severely impacted due to the meeting size restrictions. Consequently all tourism service providers, the hotels, travel agents, tour operators tourist transporters, restaurants, guides will be compromised and the tourism industry of India will be operating with extreme under capacities making most tourism businesses unviable on a cash operating basis. To prevent this and to ensure survival, FAITH had proposed a dedicated interest and collateral free long term fund for paying salaries and operating costs and for a minimum of 12 months of complete waiver of fixed central &amp; state statutory and banking liabilities without any penal or compounding interest which have not been addressed. The proposed MSME fund with its many underlying restrictions may have a very limited usage. FAITH &amp; its ten member associations (ADTOI, ATOAI, FHRAI, HAI, IATO, ICPB, IHHA, ITTA, TAAI, TAFI) had been constantly dialoguing with all factions of the government over the past 10 weeks the PMO, ministries of Finance, Commerce , Aviation, and Tourism, with RBI, with all 28 Chief Ministers, Niti Aayog and with the Empowered Group 6. Indian tourism travel and hospitality impacts 10-12 per cent of India's employment which covers almost 5 crore plus direct and indirect jobs. SEE ALSO: <a href="https://www.businessinsider.in/business/corporates/news/indian-firms-can-now-directly-list-in-foreign-markets-there-are-a-few-more-big-changes-to-companies-act/articleshow/75785648.cms">Indian firms can now directly list in foreign markets – there are a few more big changes to Companies Act</a> <a href="https://www.businessinsider.in/politics/policy/news/india-will-merge-some-government-companies-and-privatise-some-cpse/articleshow/75785709.cms">India will reduce the number of central government companies⁠— some of them will get bigger and some will be sold to private players</a> <a href="https://www.businessinsider.in/finance/news/india-puts-a-pause-on-new-bankruptcy-cases-for-a-year-and-other-changes-that-will-cap-the-rise-in-bad-loans/articleshow/75785508.cms">India puts a pause on new bankruptcy cases for a year ⁠— and other changes that will cap the rise in bad loans</a>

'Indian tourism industry is in a state of shock and disbelief'

New Delhi, Mar 12 () The coronavirus pandemic could deal a crippling blow to the Indian travel and tourism industry, specially with the government suspending all visas, with the economic impact being assessed to run into thousands of crores of rupees. According to industry chamber CII, this is the one of the worst crises ever to hit the Indian tourism industry impacting all its geographical segments - inbound, outbound and domestic, almost all tourism verticals - leisure , adventure, heritage, MICE, cruise, corporate and niche segments. The whole tourism value chain across hotels, travel agents, tour operations, destinations, restaurants, family entertainment venues and air, land and sea transportation have been hit. In an impact assessment of the coronavirus pandemic, CII Tourism Committee said inbound foreign tourism of over USD 28 billion in value terms accounts for an average 60-65 per cent between October to March. "As the news of the virus started picking up from November, the percentage of cancellations started going up in this segment exponentially and is reaching a peak of almost 80 per cent now in March in many Indian locations. The value at risk from this segment will be in multiples of tens of thousands of crores," the CII assessment report said. With India cancelling all visas, the chamber said the impact "will be worse". It further said,"The forward bookings for the inbound season of October 2020-March 2021 which should have started picking are all muted. These are showing highly discouraging signs with cancellations of important global travel marts which are marketplaces for contracting for the next season." It further said there are reports of large scale forward cancellations from NRI segment from developed markets, which account for over 60 per cent during April to September inbound visits. "Unless the progression of the virus stops, almost the entire value for the remainder of 2020 season is at risk," the report added. ANAROCK Property Consultants Chairman Anuj Puri said India's hospitality sector will definitely be impacted by the announcement of a global pandemic, and the mounting numbers of confirmed coronavirus cases in the country. "The cancellation of visas for foreigners as well as the strong advice issued to Indians to refrain from unnecessary travel will have a marked effect. This is the most unsettling healthcare crisis in recent times and hotel bookings will go south," he added. On Indians being advised to refrain from unnecessary travel, as per the CII report almost 28 million plus Indians are estimated to have travelled outside in 2019 and there were almost 1.8 billion domestic tourist footfalls. The holiday season of Indians -- those travelling within the country and outside -- is heavy in April-July, October and December. "The December holiday season of 2019 took an estimated hit of almost 40-50 per cent, the holiday season of April to July 2020 is likely to take a humongous hit which could be as high as 80-100 per cent, unless there is positive news of the progression of virus decreasing," the CII assessment report said. There are advanced cancellations and highly reduced forward booking pipelines for the holiday season. Only corporates are flying and that too only on highly essential same day travel. Most of the MNCs are advising work from home, stifling travel, it added. On suspension of visas, MakeMyTrip Group CEO Rajesh Magow told ,"The period between February till the end of March is typically a lean period because of exam season but we are seeing a demand slowdown for the upcoming summer holiday season especially for international travel. The situation remains dynamic making it hard to quantify the actual impact on our business and industry at large." He further said,"The decision by the government will have an impact on inbound and outbound international travel. So far there are no restrictions or advisories issued for domestic travel." VFS Global Regional Group COO - South Asia, Middle East and North Africa, Americas Vinay Malhotra said,"While it is too early to comment on the impact of coronavirus on visa application trends, so far, our visa application processes in India continue on schedule as per the mandates of our client governments." He also said the company is exploring steps to assuage concerns of people about visiting busy public areas due to the nature of the virus by considering discounted rates on courier return services for visa customers who want to avoid returning to the visa centres to pick up their passports. Besides, he said,"We are also contemplating lower fees for our Visa at your doorstep service, for those customers who are requesting an alternative to visiting the centres to submit visa applications." AKT RKL RKL ANUANU

Impact of coronavirus on Indian tourism could run into thousands of crores of rupees

Phurinee Chinakathum / ShutterstockThe Instagram-famous bamboo forest in Arashiyama on the outskirts of Kyoto is usually overrun with tourists.<ul class="summary-list"><li>Japan received a record 32 million visitors in 2019, approximately <a href="https://apnews.com/7664d7127a80b72ecb53605069ef12c2">one-third of whom were Chinese</a>. </li><li>But tourism in Kyoto is taking a hit amidst fears of the <a href="https://www.businessinsider.com/category/coronavirus">coronavirus</a> spreading, and a group of local shopkeepers is sharing photos of empty landmarks that are usually overrun by visitors.</li><li>Japan is one of several tourism-dependent Asian countries, including Thailand, that are feeling the effects of China's COVID-19 outbound travel ban. </li><li>Follow coverage of the coronavirus (COVID-19) on Business Insider <a href="https://www.businessinsider.com/category/coronavirus">here</a>.</li><li><a href="https://www.businessinsider.com/?hprecirc-bullet">Visit Business Insider's homepage for more stories</a>.</li></ul>Known for its temples, monkey park, and bamboo forest, the scenic neighborhood of Arashiyama on the outskirts of Kyoto has become a social media sensation. Over the past few years, it has accrued <a href="https://www.instagram.com/explore/tags/arashiyama/">649,000 photo tags on Instagram,</a> many taken during red maple and cherry blossom seasons. Its bamboo forest alone has <a href="https://www.instagram.com/explore/tags/arashiyamabambooforest/">72,700</a> tags.More often than not, the path through Arashiyama's bamboo forest is flooded with sightseers - but in the wake of the COVID-19 outbreak in China, which has infected <a href="https://www.cnn.com/asia/live-news/coronavirus-outbreak-02-18-20-intl-hnk/index.html">over 73,000 and killed more than 1,800 worldwide, </a>Kyoto shopkeepers have noticed a downtick in the number of tourists."Even though it is a low season, there are fewer visitors than usual due to the influence of the coronavirus!" the neighborhood hospitality association <a href="https://twitter.com/sagaarashiyamao/status/1228430623850713088">tweeted on February 15</a>.In 2019, Japan received a <a href="https://www.prnewswire.com/news-releases/japans-tourism-hits-record-numbers-in-2019-300979556.html">record </a><a href="https://www.tourism.jp/en/tourism-database/stats/inbound/">32 million tourists</a>, and Kyoto accordingly received an influx of visitors. While data reflecting the impact of COVID-19 on tourism to Japan won't be available until later this month, <a href="https://apnews.com/7664d7127a80b72ecb53605069ef12c2">according to AP's Grant Peck</a>, locals have already been commenting on it.Shopkeepers near major attractions in Kyoto shared their observations of decreasing visitor traffic with local newspaper Kyoto Shimbun, Casey Baseel <a href="https://japantoday.com/category/national/Kyoto-tourist-crowds-disappearing-due-to-coronavirus-outbreak">reported</a> for Tokyo-based news site SoraNews24. "This is the most dramatic drop in traveler traffic I've seen [in over 30 years]," a shopkeeper near Kiyomizudera temple told Kyoto Shimbun. Another, who works near Fushimi Inari Taisha Shinto shrine, said that while 200 tour buses usually come in per day, "now it's just a few." A third, who works near Kyoto's Golden Pavilion, estimated that crowds are half the size they usually are in February.In response, local shopkeepers have created an "empty tourism" campaign, enticing visitors with images of uncrowded attractions, Emiko Jozuka <a href="https://www.cnn.com/travel/article/coronavirus-japan-kyoto-empty-tourism-campaign-hnk-intl/index.html">reported for CNN Travel</a>.Jozuka identified the photos and translated the captions."It's been a while since there were more monkeys than humans," one image reads. Another shows tourist-favorited Togetsukyo Bridge without visitors. Accompanying the image of the bamboo grove are the hashtags "#nopeople" and "#nowisthetime."The Asahi Shimbun via Getty ImagesSightseers enjoy autumn colors from Togetsukyo Bridge in Arashiyama. The bridge is also a popular destination for viewing spring cherry blossoms.<h2>Tourism-dependent Asian countries are feeling the effect of China's travel restrictions</h2>In late January, China <a href="https://skift.com/2020/01/26/china-cancels-group-trips-as-coronavirus-control-measures-expand/">instituted a ban</a> on all outbound group travel from the country, and earlier this month, Japan <a href="https://english.kyodonews.net/news/2020/02/5481d14af447-urgent-japan-extends-entry-ban-to-visitors-from-chinas-zhejiang-province.html">banned residents</a> of China's Hubei and Zhejiang provinces from traveling to Japan."It's not like there are no Chinese at all," Tomotsugu Mizukami, spokesman for the Kyoto City Tourism Association, told Peck on Monday in a telephone interview. "But the effect is clearly visible."Over <a href="https://apnews.com/7664d7127a80b72ecb53605069ef12c2">150 million Chinese tourists traveled outside the country in 2018</a>, and t<a href="https://time.com/5783505/thailand-asia-tourism-covid-19-china-coronavirus/">ourism-dependent Asian countries such as Thailand</a> are feeling the effects of China's travel restrictions acutely. In 2019, <a href="https://apnews.com/7664d7127a80b72ecb53605069ef12c2">9.6 million Chinese</a> tourists visited Japan, comprising one-third of Japan's total visitors. Nikkei Asian Review <a href="https://asia.nikkei.com/Spotlight/Coronavirus/Japan-tourism-hits-turbulence-from-Chinese-coronavirus">estimates</a> that COVID-19 could have a $23 billion impact on the country's GDP. The 2020 Summer Olympics are <a href="https://www.businessinsider.com/tokyo-olympics-no-plan-summer-games-coronavirus-fears-2020-2">still set to take place</a> from July 24 to August 9 in Tokyo, with the <a href="https://tokyo2020.org/en/special/torch/olympic/schedule/">Olympic Torch Relay</a> kicking off in Fukushima on March 26. "I want to again state clearly that cancellation or postponement of the Tokyo Games has not been considered," Tokyo Olympics organizing committee president, Yoshiro Mori, <a href="https://www.nytimes.com/2020/02/17/sports/tokyo-marathon-cancelled-coronavirus.html">said</a> at a Tokyo gathering last week. "Let me make that clear." <h3>NOW WATCH: <a href="https://www.businessinsider.com/how-groundhogs-predict-weather-origin-history-groundhog-day">How groundhogs became the animal that predicted the weather</a></h3>

Shopkeepers in Kyoto are sharing photos of empty landmarks that are usually overrun by tourists, and it shows the effects of the coronavirus on tourism in Japan

<ul><li>Only 250,000 Chinese tourists came to <keyword id="3658" type="COUNTRY" weightage="20" keywordseo="India">India</keyword> in 2016, making India’s immediate neighbour the ninth-largest source of tourists. </li><li>To stimulate interest among Chinese tourists, India’s <keyword id="20048" type="CITY" weightage="20" keywordseo="tourism">tourism</keyword> ministry is setting up an office in Beijing and launching roadshows in a number of Chinese cities. </li><li>Ultimately, the tourism ministry’s end goal is to attract at least 1% of <keyword id="1334" type="COUNTRY" weightage="20" keywordseo="China">China</keyword>’s outbound tourists this year and 10% within the next five years. </li></ul>India’s tourism sector has a problem. It is failing to attract tourists from China which, as per 2016 estimates from the UN’s World Tourism Organization, is the country that contributes the most to global tourism with 135 million outbound visitors. As per calculations from the Indian Express, only <a href="https://indianexpress.com/article/explained/explained-snippets-chinese-are-biggest-contributors-to-world-tourism-only-1-in-500-of-them-travels-to-india-5328055/">1 out of 540 Chinese tourists</a> made it to India in 2016, culminating in a paltry total of 250,000 tourists. This makes China, our immediate neighbour, only the ninth-largest source of tourists in India, according to the Ministry of Tourism. Naturally, the Indian government wants to change this. The low level of interest from Chinese tourists represents a huge opportunity to take advantage of, or gap that must be addressed, depending on how you look at it. India’s Minister for Tourism, KJ Alphons, is leaving for China today to oversee the establishment of an Indian tourism outpost in Beijing. The office, which is expected to be operational by the end of the month, will facilitate the launch of tourism roadshows across China in cities like Shanghai, Wuhan and Guangzhou. The Tourism Ministry has also planned to invite members of the Chinese media and lifestyle industries to India and train more Indian guides to speak Mandarin. Currently, there are reported to be only <a href="https://www.hindustantimes.com/india-news/plan-to-increase-chinese-tourists-hits-roadblock-with-only-few-mandarin-speaking-guides/story-6t8QT3m8JkmOmn50a8jo3N.html">37 accredited Indian guides</a> who are trained in Mandarin. Alphons’ last visit to China was in May, when he attended the Shanghai Cooperation Organization conference on tourism at the behest of Prime Minister Modi. A key focus area of the tourism ministry's efforts in attracting Chinese tourists will be the promotion of the Buddhist Circuit in India. In fact, the ministry has initiated talks with the highways ministry to connect the entire Buddhist travel circuit in the states of Uttar Pradesh and Bihar with four-lane highways. Ultimately, the tourism ministry’s end goal is to attract at least 1% of China’s outbound visitors this year and 10% within the next five years. Given that tourism is considered an export, the envisioned surge in Chinese tourists will contribute towards the reduction of India’s glaring <keyword id="44844" type="ORGANIZATION" weightage="20" keywordseo="Trade">trade</keyword> deficit with China, which is estimated to be around $63 billion.

The Indian government wants to attract more Chinese tourists and here’s what it has planned

<div class="KonaFilter image-container display-table float_right"><div><div class="image on-image">Jason Reed/Reuters</div></div></div>Rainmakers are betting on tourists to bring in some serious profits.The Carlyle Group, the private-equity giant with $178 billion in assets, recently invested in <a href="https://www.carlyle.com/news-room/news-release-archive/inca-rail-link-historic-machu-picchu-announces-investment-carlyle-per">Inca Rail</a>, which provides a scenic ride to Machu Picchu in Peru.Apollo Global Management announced <a href="http://ir.agm.com/phoenix.zhtml?c=214560&amp;p=irol-newsArticle&amp;ID=2185629">its $2.2 billion purchase of Diamond Resorts</a>, a timeshare operator based in Las Vegas, and KKR is set to open <a href="http://www.prnewswire.com/news-releases/hawaiis-first-hyatt-centric-branded-hotel-set-to-open-in-winter-2016-2017-300299236.html">a new hotel in Waikiki Beach</a> with partners CoastWood Capital Group and Chartres Lodging Group this winter.So far this year, the value of global private-equity deals in the dining and lodging sectors reached $4.6 billion, according to Dealogic data, surpassing the $4.4 billion invested in all of 2015."Global travel continues to be an attractive investment area," Sandra Horbach, cohead of Carlyle Group's US buyout team, told Business Insider. "Consumers are increasingly shifting their spending from things to experiences. Travel will also benefit from rising discretionary incomes in many emerging markets."The tourism industry saw steady growth over the past five years, helped by <a href="http://www.businessinsider.com/market-could-be-biggest-in-history-of-commerce-2016-6">the explosion of a global middle class</a> and a decline in unemployment rates around the world. Inbound and outbound trips are especially high in emerging economies like Asia and South America, where tourism spending has outpaced that of developed economies, according to research firm IBISWorld.It also helps that millennials are craving adventure and are more willing to spend on <a href="http://www.businessinsider.com/this-awesome-infographic-shows-how-millennials-spend-their-money-2016-5">experiences over material objects.</a><h2>Emerging markets</h2>For Carlyle, the bet on travel and leisure in Latin America has paid off.The firm bought a majority stake in late 2009 in <a href="https://www.carlyle.com/our-business/portfolio-of-investments/cvc-brasil-operadora-e-agencia-de-viagens-sa">CVC Brasil Operadora e Agencia de Viagens</a>, Brazil's biggest travel-tour operator by revenue. CVC said that it expects Brazil's tourism market to benefit from hosting events like the 2016 Olympic Games.The company had booked sales of $43.8 million in the second quarter this year, compared to $40.9 million a year earlier. Its shares have jumped about 40% since it went public in 2013."It's an asset-light model, which we like, and an opportunity for us to benefit from favorable secular trends in Latin America," Horbach said. "Despite a slowdown in emerging markets, CVC has performed very well as people still want to travel and explore new places." "Asset light" refers to businesses that aren't capital intensive or have high overhead to deliver their services. This approach is generally perceived as nimbler and able to scale more quickly.<h2>Online push</h2>KKR, which <a href="http://www.businessinsider.com/kkr-second-quarter-results-tension-2016-7">manages $131 billion in assets</a>, is also bullish on the digital-travel boom. Stephen Shanley, principal at the firm's technology, media, and telecommunications team, sees the opportunity in travel tours and activities booking platforms, which he said is very under-penetrated compared to hotels and flights."Online booking rates for hotels and flights are above 40% across most Western European and North American countries," he told Business Insider.That has prompted Shanley's team to look into Berlin-based GetYourGuide, which aims to be a one-stop shop for vacationers to find and book activities online. KKR <a href="http://www.businesswire.com/news/home/20151113005183/en/GetYourGuide-Raises-50-Million-Growth-Led-KKR">led a $50 million investment</a> into the startup last November to help it scale, joining backers such as Kees Koolen, former CEO of Booking.com, and Fritz Demopoulos, founder of Qunar.com.GetYourGuide covers <a href="http://files.shareholder.com/downloads/KKR/0x0x861427/1D0A1CB2-ACF7-4B0A-938E-D02180C82561/KKR_News_2015_11_13_KKR.pdf">more than 27,800 activities</a> in over 2,500 destinations around the world, according to the company's statement."We see strong demand [for Get Your Guide] in Europe, the company's core market, and we are seeing outsized demand in its newer markets, which include Asia, North America, and South America - it's a highly diversified user base," Shanley said.Carlyle's investment in luxury-tour operator <a href="https://www.carlyle.com/news-room/news-release-archive/carlyle-group-invests-luxury-inbound-tour-operator-bonotel-exclusive">Bonotel Exclusive Travel</a> is another example of buyout shops' broader push into online-travel platforms."Some of our investments are about finding places where we can leverage Carlyle's strengths to these tourism and travel-related businesses," Adam Glucksman, managing director in Carlyle's equity-opportunity fund, told Business Insider.That includes helping companies gain access to other regions where Carlyle has a local presence, or providing contacts in hotels or other travel-related industries to help the investment drive growth, he added. <div class="margin-top"> <h3>NOW WATCH: <a href="http://www.businessinsider.com/cuba-tourism-americans-problems-2015-6">4 major issues for any American who wants to visit Cuba</a></h3> <div> <div> <div class="ooyala-video-player" data-video-autoplay="false" data-video-id="Bsb3lzdTrjqITYCLxAT8ye8OQqiG8Vph" data-player-variable="ooyalapopvideo" id="ooyalaplayer_popvideo" style="width:1280px;height:720px"></div> </div> </div> </div>

Wall Street's big investors are piling into tourism

2016 was much of euphoria for tourism industry. The<a href="http://www.businessinsider.in/heres-how-budget-2017-will-be-a-game-changer-intourism-industry/articleshow/56628238.cms"> tourism ministry</a> got 70 % hike in the budget with an allocation of Rs 1,590 crore, to focus on infrastructure development and promotion and publicity initiatives. But in a knee jerk reaction to <keyword id="6354642" type="PERSON" weightage="20" keywordseo="modi">Modi</keyword>'s demonetization move in November last year, the industry has been left with no choice but to make losses. In the last few years, the tourism in India has witnessed a major boom. In comparison to inbound travel, India has seen a major growth in the outbound sector, thanks to the disposable income of the <a href="http://www.businessinsider.in/heres-how-budget-2017-will-be-a-game-changer-intourism-industry/articleshow/56628238.cms">millenials</a>. Here are a few reasons, why India’s tourism hasn’t achieved much in comparison to <a href="http://www.businessinsider.in/heres-how-budget-2017-will-be-a-game-changer-intourism-industry/articleshow/56628238.cms">China</a>. Infrastructure While domestic<a href="http://www.businessinsider.in/heres-how-budget-2017-will-be-a-game-changer-intourism-industry/articleshow/56628238.cms"> travellers</a> have quadrupled, Indian tourism didn’t see much development in its infrastructure. While roads may have become better, and a lot of online travel portals have born, what went missing is a massive blue print of infrastructure to take India’s tourism to a new high. In India there has hardly been any addition to new hotels. Compare this to China and you would be surprised to find <keyword id="1333" type="LOCATION" weightage="20" keywordseo="beijing">Beijing</keyword> has as many star-category hotel rooms as all of India. India till 2015 has just a little over 100,000 star rated hotel rooms, compared to Beijing’s 130,000 alone. Also lack of supply of hotel rooms has aggravated the demand thereby making the travel in India far expensive in India. The rooms that cost $400 a night in Delhi or Mumbai would cost hardly $100 dollars in most part of China. 
	<div type="image" msid="56719279" hostid="261"></div>


 Market size Another primary reason for China’s growth in tourism market is its size. China is far larger than our country, packed with tonnes of tourist attractions. Also many foreign visitors coming to India prefer cultural and natural destinations and tend to stay away from the cities. However in China, cities are also major draws. Expenses Tax disparity in independent travel purchase is a major flaw in Indian travel ecosystem. There are just too many taxes, which makes travel expensive. Communication The quality of transportation infrastructure in China is light-years ahead of India, there's simply no comparison, according to a <keyword id="274437" type="UNKNOWN" weightage="20" keywordseo="Quora">Quora</keyword> post. It is far easier and more comfortable for tourists to get around China than it is for them to get around India. China's air, rail, and road networks are all faster, safer, and more modern than India's. 
	<div type="image" msid="56719273" hostid="261"></div>


 Safety and security India has witnessed countless instances of pickpockets, burglary, sexual assaults and scams against foreign tourists. There are tourist traps as well that make the country unsafe for travellers. Visits to India by female tourists dropped 35 percent in 2015 compared with the same period a year ago, according to the <a href="http://www.businessinsider.in/heres-how-budget-2017-will-be-a-game-changer-intourism-industry/articleshow/56628238.cms">Associated Chambers of Commerce and Industry of India</a>. There is very little for travellers to worry about in China. Violent crime and rape are almost unheard of. You can walk down dark city streets at night in China and have nothing to worry about. Here are the suggestions of industry experts to make tourism in India at par with China: Sharat Dhall, COO (B2C), Yatra.com, an online travel agency and a travel search engine: “The Indian tourism industry is growing at a rapid pace, fuelled by a growing domestic middle class with increasing disposable incomes. In addition, the inbound market is growing at a steady pace as well. However, in comparison to other comparable countries, India still has a long way to go in terms of fulfilling its potential as a tourism destination. The Government has rightly identified Tourism as a pillar of growth in the economy and with improved road infrastructure, regional air connectivity and better budget accommodation, we expect that we will unlock this sector and improve our share of the global tourism market. The Chinese tourism industry &amp; OTAs have benefited from country’s economic development and we believe that India’s tourism sector and online travel market is poised for continued growth and value creation as the economy grows, following the well-established path seen in the US and China.” <keyword id="2049459" type="PERSON" weightage="20" keywordseo="amitabh-misra">Amitabh Misra</keyword>, Founder of GoFro.com, an online travel marketplace for leisure travel: If we compare the global travel scenario, almost 30-40% population in <a href="http://www.businessinsider.in/heres-how-budget-2017-will-be-a-game-changer-intourism-industry/articleshow/56628238.cms">US and Europe</a> go for leisure travel every year, where as in China the number is around 8% and in India it’s still less than 1% of the total population, making it a market with huge growth potential. Having said that one of the major concern is increase in tax disparity in independent travel purchase viz-a-viz holiday packages; for example, the consumer has to pay the tax on flight tickets, now if its combined with a holiday package, they will also have to pay tax on the overall package as well, thus travel is getting costlier for the consumer. We are expecting the 2017 budget to adopt a lenient tax structure which further promote the tourism industry. With government working towards improving country’s infrastructure and enabling tech support at various section will also lead to faster growth of inbound tourism. Ritesh Agarwal, Founder &amp; CEO, OYO Rooms : Infrastructure development is a pre-requisite to provide the much-needed impetus for the industry’s growth. Additional incentives should be provided for infrastructure investments in the travel and tourism sector to accelerate growth. A lower tax rate for hospitality business and the lower rate of interest for real-estate development will ensure opening up of more supply for the nascent branded budget hospitality sector. This will be in line with supporting small owner-friendly policies, such as the exemption of service tax in the sub-Rs. 1000 hotel room category.”

China’s tourism is much ahead of India. Here’s why

Indian travelers have smartly extended the Diwali break into a 5 to 6 day long festive weekend. The travel hungry Indian has been quick to leverage festivals and the upcoming long weekend on account of Diwali offers an apt opportunity to escape from the hectic pace of daily work life and indulge in a short well-deserved getaway, to rejuvenate and recharge.. 
 
With the rapidly evolving Indian traveler of today, fresh new experiences are now de rigueur from outdoor and sports like kick boxing, abseiling, kite surfing in Thailand or alpine adventure in Switzerland; self-drive vacations in New Zealand to decadent spa-wellness in Korea/ Jeju Island and authentic local village stays and culinary-cuisine tours with chefs in France and Italy. 
 
“We have witnessed a significant growth of over 27% not just from metros but equally from mini metros and Tier-II cities”, Mr. Jatinder Paul Singh, Senior Vice President &amp; Head - Sales &amp; Distribution Leisure Travel (Outbound), Thomas Cook India said. 
 
Indians are also maximizing this opportunity to plan short-haul vacations to explore domestic destinations. 
 “Our sales teams have reported a significant increase of 35% in Diwali and festive season bookings compared to 2014, to a diverse range of domestic favorites Coorg, Kabini and Bhutan. An interesting trend that has emerged this Diwali is Indian travelers looking forward to try newer destinations like the Konkan belt”, Mr. Rajeev D. Kale, President &amp; Chief Operating Officer - MICE, Domestic &amp; Sports <keyword id="20048" type="CITY" weightage="80" keywordseo="tourism">Tourism</keyword>, Thomas Cook India said. 
 
BI India lists the top trending holiday destinations this season. 
 
Image credit: Indiatimes

Top travel trends for upcoming Diwali
weekend

It goes without saying that 2015 has been a pretty good year for the<a href="http://www.businessinsider.in/searchresult.cms?query=tourism"> tourism</a> industry. Infact, since the <a href="http://www.businessinsider.in/searchresult.cms?query=BJP">BJP </a>government has come to power in 2015, the tourism sector has risen to prominence with Prime Minister <a href="http://www.businessinsider.in/searchresult.cms?query=NARENDRA+MODI">Narendra Modi</a> himself praising the employment and the revenues generated as a result of this industry. 
 
Tourism on the other hand has been a key contributor to the Indian economy as well, and boasts of immense possibilities of growth. Though the government’s initiatives to ensure that domestic and international connectivity and accessibility through the e-visa scheme has borne positive results, there still exists a huge gap as far as travel facilities, infrastructure, high taxes, tourist safety among others. 
 
Thus, it’s no surprise that the travel industry has a lot of expectations from this Union <a href="http://www.businessinsider.in/searchresult.cms?query=BUDGET">Budget</a> 2016. 
 According to Anil Khandelwal, CFO, Cox and Kings, it’s time that the <keyword id="53865" type="UNKNOWN" weightage="80" keywordseo="tourism-industry">tourism industry</keyword> be treated at par with exporters based on its foreign exchange earnings. 
 “The industry earns foreign exchange and the retention of foreign exchange is much higher than any other export oriented industry. Like exporters, based on foreign exchange earnings, tour operators should also get exemption of service tax on package tours as the payment is received in foreign exchange. With the service tax added at present, <keyword id="3658" type="COUNTRY" weightage="80" keywordseo="India">India</keyword> packages lose on account of price competitiveness and cannot match the prices on holiday packages, which are on offer by our competitive countries like China, Thailand, Malaysia, Sri Lanka, Singapore Hong Kong etc,” he adds. 
 Manmeet Ahluwalia, Marketing Head for Expedia India further adds that he expects tourism industry to be a key agenda for the government in this <keyword id="6360189" type="COMPANY" weightage="80" keywordseo="Union-Budget">Union Budget</keyword>, similar to its share of importance displayed by the government in the past two years. 
 
On the other hand, Sharat Dhall, President of Yatra feels that leniency in tax structure is the need of the hour which will inturn help boost inbound tourism. 
 
It is because of travel and tourism being a very highly taxed industry in the country that India becomes an expensive destination, which is not good news for anyone. 
 
Echoing his demands, Khandelwal adds that tax is an important issue that needs to be dealt with in this year’s budget. 
 
“Indian tour operators have to pay double taxes for the arrangement for outbound tours, firstly in India and secondly outside India. To avoid the double taxation on the outbound tours, it is recommended that the service portion, which is rendered in India, should be taxed and rest should be out of the service tax,” he said. 
 
He is also of the belief that cruise tourism is one of the budding travel segments in the country that need to be strengthened. 
 
“In order to strengthen it further, robust cruise tourism policy framework is essential as India is entering into a market already dominated by strong cruise tourism players and markets,” he concluded. 
 
Image credits: Indiatimes

This
is what the travel sector expects from Budget 2016

<ul class="summary-list"><li>Global luxury goods sales growth will slow in 2024, per a new Bain &amp; Company report. </li><li>The report cited China's economic uncertainties and rising outbound tourism as key factors.</li></ul>The spike in the global sales of <a target="_blank" href="https://www.businessinsider.com/guides/home/best-luxury-items">luxury goods</a> could be coming to an end in 2024, and "luxury shaming" could be in part to blame.A <a target="_blank" href="https://www.bain.com/about/media-center/press-releases/2024/following-a-record-year-the-stalled-luxury-goods-market-faces-a-dilemma-between-catering-to-top-clientele-and-reaching-new-audiences-amid-ongoing-complexities/">report</a> published on June 18 by Bain &amp; Company forecast that worldwide sales of personal luxury goods — which include high-end clothing, shoes, handbags, and beauty products — would <a target="_blank" href="https://apnews.com/article/global-luxury-sales-flattening-inflation-europe-us-32e628674279d4931a1f54cc2fcfa483">grow</a> at the slowest rate since 2020, when sales <a target="_blank" href="https://www.cnbc.com/2020/05/08/coroanvirus-bain-report-on-global-luxury-sales-for-2020-and-beyond.html">plummeted</a> due to pandemic-related factors.If Bain's forecast pans out, it could be due in part to a <a target="_blank" href="https://www.reuters.com/business/retail-consumer/chinas-rich-ditch-flashy-luxury-global-sales-stall-says-bain-2024-06-18/">slowdown</a> in China. The report cited two factors in particular that are holding back sales in the Chinese market: "the revival of outbound tourism" and "weakening local demand caused by rising economic uncertainties."As pandemic conditions have eased, more wealthy Chinese citizens have begun <a target="_blank" href="https://www.businessinsider.com/rich-chinese-millennials-status-symbol-solo-travel-no-group-tours-2024-6">traveling internationally</a> — allocating money to travel that they might otherwise have spent on luxury goods.Additionally, <a target="_blank" href="https://www.businessinsider.com/china-economy-outlook-2024-beijing-investors-real-estate-property-markets-2023-12">economic uncertainty</a> in China has brought about a phenomenon called "luxury shame" or "luxury shaming." With some Chinese citizens experiencing <a target="_blank" href="https://www.businessinsider.com/china-economy-crash-youth-unemployment-rate-labor-market-atlantic-council-2024-2">financial challenges</a>, some higher-income people have been hesitant to flaunt their wealth with luxury goods. Bain said this phenomenon played out in the US during the <a target="_blank" href="https://www.businessinsider.com/2008/12/hooray-ultra-rich-still-buying-expensive-things">Great Recession</a> — and has impacted sales in China.Bain partner Claudia D'Arpizio <a target="_blank" href="https://apnews.com/article/global-luxury-sales-flattening-inflation-europe-us-32e628674279d4931a1f54cc2fcfa483">told</a> The Associated Press that in addition to macroeconomic factors, luxury goods companies may also be to blame for the slowdown in sales.She said some luxury goods companies have raised prices but not justified these hikes with sufficient innovation, leaving some consumers "upset and puzzled."

The global spike in luxury handbags, shoes, and clothing sales could be coming to an end due in part to China's 'luxury shaming,' study finds

<ul class="summary-list"><li>Lazarus Island is 5 miles from mainland Singapore.</li><li>On a recent trip there, I spent one night in a glamping tent and the other in a tiny house.</li></ul>In August, I hopped on a 20-minute ferry from <a target="_blank" class="" href="https://www.businessinsider.com/singapore-lifestyle-food-shopping-malls-weather-heat-misconceptions-2023-9">Singapore</a> to explore Lazarus Island, one of the country's eight Southern Islands.This wasn't my first time on the island — I last visited in 2021. Back then, it had no accommodations, and it was common for visitors to spend the day and head back to the mainland before sunset.Now, visitors interested in spending a night on the 47-hectare island aren't required to lug a tent or backpack full of camping gear. Tourists can choose between two recently opened accommodations: a<a target="_blank" href="https://www.businessinsider.com/stay-tiny-home-remote-lazarus-island-singapore-2024-8"> tiny house</a> or a<a target="_blank" href="https://www.businessinsider.com/luxury-tent-glamping-into-the-woods-lazarus-island-singapore-2024-9"> luxury glamping tent</a>.<a target="_blank" href="https://www.businessinsider.com/millennial-tiny-house-startup-company-with-friends-lazarus-singapore-2024-9">Big Tiny</a>, a tiny house startup in Singapore, launched Tiny Away on Lazarus in May last year. Into the Woods, run by a couple, Ray Lee and Sam Wong, put up nine tents in February.Both are part of a government initiative to develop tourism on Lazarus Island. In a media release, Sentosa Development Corporation, an organization under Singapore's Ministry of Trade and Industry, said the initiative aimed to promote rustic adventure and sustainable tourism on the Southern Islands.Both options are located around 1,000 feet from each other and are priced at 380 Singapore dollars, or $290, a night after tax and service charges. I stayed a night in each. BI covered the costs of the trip.Although Singapore has a robust hospitality scene, with two hotels making it on <a target="_blank" class="" href="https://www.theworlds50best.com/hotels/list/1-50">The World's 50 Best Hotels</a> list in 2024, alternate accommodation options just started taking off in the past few years. From staying in a <a target="_blank" class="" href="https://www.businessinsider.com/shipping-container-hotel-singapore-haw-par-villa-photos-2022-3">shipping container hotel</a> in a hell-themed park to glamping in the wild at Singapore Zoo, there are now more options for travelers seeking less ordinary stays."After the pandemic, travelers become increasingly experiential-driven for both outbound and domestic travel," said Prudence Lai, a consultant specializing in travel at market research company Euromonitor, in an email response. Travelers would rather spend on authentic local experiences than spend on tangible goods, she added.<h2 id="50404462-149f-48bf-8116-e4ab0d0440b2">The tiny house was more comfortable</h2><div type="image" title="Composite image of a glamping tent on the left and a tiny house on the right (interior)" height="1440" width="2160" msid="114027798" hostid="261" sizebytes="132726"></div>From the outside, the glamping tents looked luxurious. They were equipped with a queen-sized bed, cooking amenities, and air conditioning.But there was one major inconvenience: Whenever I needed to use the toilet, I had to put on my shoes and trek through the sand to get there.Due to physical and cost constraints, the Into the Woods' cofounders decided against installing ensuite toilets. Instead, guests need to take a three-minute walk to the communal toilets, which include four separate showers.Several guests I spoke to mentioned the inconvenience of trekking the dimly lit path to the toilets in the middle of the night.In comparison, the tiny house had a surprisingly spacious toilet. The room was clean, comfortable, and tucked away from the rugged outdoors.<h2 id="41a8074c-85fd-4fa7-a22e-33be31789fc4">The glamping tent offered a more novel experience</h2><div type="image" title="Composite image of doodle books on the left and a TV on the right." height="1080" width="1440" msid="114027797" hostid="261" sizebytes="75666"></div>With just one convenience store and a water sports center open only on weekends, there's not much to do on the small island.The tiny house had a TV with a Netflix subscription. The presence of a screen made it more difficult to unplug, and I found I couldn't resist indulging in my guilty pleasure: watching a chick flick on Netflix.By contrast, the glamping tent <a target="_blank" class="" href="https://www.businessinsider.com/phone-free-vacations-digital-detox-summer-2024-6">encouraged me to unplug and try slow living</a>. With an unreliable WiFi connection, I could only turn to the coloring books and journals they provided. Although I initially felt restless, the lack of distractions allowed me to slow down and indulge in a night of self-reflection.And perhaps because I come from <a target="_blank" class="" href="https://www.businessinsider.com/singapore-good-class-bungalows-sale-photos-wealthy-mansions-2022-6">land-scarce Singapore</a>, where small spaces are the norm, living in a tiny house didn't feel particularly novel.Staying in a beachfront accommodation, however, was a rare treat. The tents were perched just a couple of feet from the water, and I watched as other guests let their dogs run freely on the sandy shore. Once the last ferry left, it almost felt like <a target="_blank" class="" href="https://www.businessinsider.com/panama-private-island-resort-isla-palenque-photos-2024-9">I was on a private beach</a>.Both accommodations provided cooking equipment and a portable guest stove, so guests could cook their own food. During my stay, I opted to cook at Into the Woods and ordered a microwave meal at Tiny Away.<h2 id="460b97d7-b0b0-4871-8643-b72d8e7c3aa3">My night in the glamping tent was a refreshing break from my usual city routine</h2><div type="image" title="Tents at Into the Woods" height="3264" width="4896" msid="114027800" hostid="261" sizebytes="1189922"></div>Both accommodations offer a <a target="_blank" class="" href="https://www.businessinsider.com/we-moved-somewhere-rural-more-peaceful-life-and-had-problems-2023-12">great escape from the hustle and bustle of city life</a> — I felt as though I wasn't even in Singapore.Still, the experiences weren't cheap. The nightly rate at both accommodations was comparable to the rates of some five-star hotels on the mainland — a twin deluxe room at the Shangri-La, for example, costs SG$380 at the time of writing.Given their premium price points, one night's stay at both accommodations was enough for me.

I stayed in a glamping tent and a tiny house resort on a small island near Singapore. One was a better escape from city life.

<ul class="summary-list"><li>Japan's weak currency is boosting tourism, with a record-breaking 3.1 million visitors in March.</li><li>The devalued yen is encouraging tourists to spend more on luxury goods.</li></ul>Japan is a <a target="_blank" href="https://www.businessinsider.com/japan-town-building-barrier-stop-tourists-taking-mount-fuji-photos-2024-4">beloved tourist spot</a>. A weak currency is ensuring that it will remain that way for foreigners.The country just broke its pre-pandemic tourist record, with 3.1 million foreign visitors in March. The government said it's on track to surpass <a target="_blank" rel="noopener noreferrer" class="c-link" href="https://www.japantimes.co.jp/news/2024/04/17/japan/society/record-high-inbound-travelers/">2025's target of 32 million annual foreign visitors</a> this year, after 8.6 million tourists visited in the first quarter of 2024.Japan opened to tourists in October 2022, after over two years of strict, pandemic-induced border restrictions. Pent-up demand, combined with a cheaper currency, has fueled the record number of visitors.Tourists are staying longer and spending more due to the weak yen, which makes it cheaper for foreigners to purchase accommodation, activities, food, and gifts. The yen has fallen nearly <a target="_blank" href="https://markets.businessinsider.com/currencies/jpy-usd">10% year-to-date</a>, compared to the dollar.Japan's currency has been depreciating largely due to high interest rates in the US, which makes the dollar more attractive to investors. A <a target="_blank" href="https://www.businessinsider.com/japan-central-bank-raises-interest-rates-17-years-2024-3">historic rate hike</a> in Japan last month — the first since 2007 — did little to reverse the downward trend.Japan is a tourist hot spot because of its status as a <a target="_blank" href="https://www.businessinsider.com/centuries-old-japanese-ceramics-maker-maruwa-ai-revolution-2024-4">culture</a> and entertainment icon, its natural wonders, and its unique cuisine. Tourists from South Korea, China, Taiwan, and the US made up the <a target="_blank" href="https://statistics.jnto.go.jp/en/graph/">biggest portion</a> of foreign visitors in March, according to Japan's National Tourism Organization.Japanese carriers like Japan Airlines and ANA plan to cash in on the tourism boom by running more routes from Asia.The sharp decline of the yen has also expanded demand for luxury goods. Foreign tourists are taking advantage of the currency discount by snapping up cheaper products in Japan from premium brands such as Swiss watchmaker TAG Heuer, Chanel, and Prada, <a target="_blank" href="https://www.bloomberg.com/news/articles/2024-04-17/how-to-get-cheaper-luxury-goods-japan-s-weak-yen-provides-bargains?srnd=homepage-asia">Bloomberg reported</a> earlier this month.While the weak yen creates a sweet spot for foreigners, it is severely hurting Japanese travelers.The number of outbound travelers was <a target="_blank" href="https://statistics.jnto.go.jp/en/graph/#graph--latest--figures">less than half </a>the number of inbound travelers in March, per the National Tourism Organization. Outbound Japanese travel was <a target="_blank" href="https://statistics.jnto.go.jp/en/graph/#graph--latest--figures">down 37%</a> last month compared to the same period in 2019, though it ticked up from February, the agency's data shows.High airfare costs and low buying power is compelling more locals to skip international travel in favor of domestic locations.

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