Lifting of China’s Group Travel Ban Spurs Growth in Asian Tourism and Hotel Stocks

China’s culture and tourism ministry announced on Thursday that it is lifting the ban on group tours to more than 70 locations worldwide. This news has significantly impacted travel and airline stocks in Asia.

Asia-Pacific’s top travel destinations, including Japan, South Korea, and Australia, are among the locations where group tours will resume. The list also includes countries like the United Kingdom, Germany, Finland, Sweden, Qatar, Oman, Lebanon, and Israel.

South Korean airline and travel stocks experienced a strong surge in response to this news. Lotte Tour Development, a prominent travel agency, saw its shares increase by over 25%, while luxury hotel operator Hotel Shilla witnessed a surge of 17%. Additionally, Asiana Airlines and Korea Airlines, two major South Korean airlines, saw their stock prices rise by 7% and 3.1% respectively.

Notably, this surge in South Korean travel stocks occurred despite the landfall of Typhoon Khanun, which resulted in the cancellation of more than 330 flights and the relocation of 10,000 individuals to safety.

This decision by China marks the end of a six-year ban on group tours to South Korea, which was implemented in 2017 in response to the deployment of the Terminal High Altitude Area Defense system in South Korea.

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