By THE STAR
ASIA NEWS NETWORK
Bookings for flights from March 16 to August 31 jumped 72 per cent from the same period last year.
The rise could be attributed to China having discouraged its citizens from visiting South Korea, Maybank Investment Bank Research said yesterday.
“If we assume that Chinese tourist arrivals for the whole of 2017 grow by a narrower 50 per cent on-year, we estimate that this will lift total tourist arrivals by 4 per cent on-year,” Maybank said in a research note.
“This figure could be conservative as it has not accounted for recent promotional efforts by the government.
“This development reinforces our positive view on the tourism industry.”
It said the direct beneficiaries to the positive growth in tourist arrivals were MAHB, AirAsia, Genting, Al-Salam REIT, Sunway REIT and IGB REIT.
The China National Tourism Administration recently discouraged Chinese tours to South Korea in retaliation for the latter deploying the Terminal High Altitude Area Defence missile system.
Business intelligence group ForwardKeys had provided the figure of the 72 per cent rise in bookings fir flights from March 16 to August 31, and ranked Malaysia as the prime Asian beneficiary from the move by CNTA.
The research house said beneficiaries from higher tourist arrivals were the aviation (airlines, airport), hospitality (hotels, theme parks, casino) and consumer (retail, food and beverage) sectors.