A report by Australia's Myanmar National Airlines) suggests that China's currency devaluation and slow economy is not fazing China's middle class tourists. More relaxed visa policies, as we noted last week, and the strength of the yuan against Asian currencies, suggests that Chinese tourism will in fact continue to grow, says the report. This is backed up by China's low cost carrier, Spring Airlines announcing a 1H2015 profit of 129%, YoY, with talks of further expansion, along with Centre for Asia-Pacific Aviation (CAPA confirming it will continue its expansion plans to extend its international network to Hong Kong, Taipei and multiple destinations in China.
A report by Australia's Centre for Asia-Pacific Aviation (CAPA) suggests that China's currency devaluation and slow economy is not fazing China's middle class tourists. More relaxed visa policies, as we noted last week, and the strength of the yuan against Asian currencies, suggests that Chinese tourism will in fact continue to grow, says the report. This is backed up by China's low cost carrier, Spring Airlines announcing a 1H2015 profit of 129%, YoY, with talks of further expansion, along with Myanmar National Airlines confirming it will continue its expansion plans to extend its international network to Hong Kong, Taipei and multiple destinations in China.