2
4.
Presentation and/or Discussion on HTC’s China Market Updates
Mr. Suo and Mr. Wong led the presentation. Mr. Suo highlighted what happened in the
China market. China opened in January 2023. In terms of total China outbound travel in
2023, there was a recovery of 87 million trips. Pre-pandemic, there were 160 million trips.
So, it is about a 50% recovery. The recovery is to the short-haul destinations, like Southeast
Asia, Japan, and Korea. Long-haul travel includes Europe, the U.S., Australia, and New
Zealand, which is lagging behind short-haul travel.
There is a strong recovery in the Europe market. The U.S. market had 850,000 Chinese
visitors in 2023, compared to the pre-pandemic, which was 2.9 million. In terms of flight
development between China and the U.S., before November 2023, there were only about 48
direct flights between the U.S. and China. The latest development is that by March 31, it will
have 100 flights between the U.S. and China. The recovery pace is strong. This is double in
terms of flights. There were 350 flights during the pre-pandemic time.
The total number of Chinese visitors to the U.S. is recovering well. Going forward, there has
been significant progress between the two countries. The China-U.S. tourism leadership
summit will be held in China from May 21 to May 23. Both sides will have tourism board
leaders, and they will meet to discuss how to improve development between the two
countries. The HTC will conduct the first China travel mission in China, partnered with ITB
Shanghai, one of the most influential and well-known travel trade shows. The industry
stakeholders will be invited. So far, they have received a great turnout, and about eleven
companies and entities signed up for the China travel mission, including hotels, attractions,
tour operators, and island chapters. It will take place in Shanghai from May 27 to May 29,
and in Beijing, it will be on May 31. The Beijing event will have a panel with the U.S. embassy
Beijing, commercial service department. They will arrange the industry networking event
with the U.S. embassy in Beijing. They have been working closely with the embassy, the U.S.
consulate in China, and Education USA over the past few years.
The main objective of the ongoing partnership is to get a U.S. visa for all Chinese travelers.
Because one of their target markets is the family and student market, the other objective is
to get Chinese students their visas. About 300,000 Chinese students are starting their studies
in the U.S. The third objective is to leverage all the resources from the embassy, consulate,
Brand USA, and other state tourism leaders. The market is recovering well, and they are
thinking about moving the initiative further and getting more support for the coming
projects. Mr. Suo shared some of the updates.