default-output-block.skip-main
BoF Logo

The Business of Fashion

Agenda-setting intelligence, analysis and advice for the global fashion community.

Asia Anticipates Slow Recovery to International Travel Flows

A staff stands in front of Air China Ltd. baggage drop counters for domestic flights at Beijing Capital International Airport ahead of Lunar New Year.
A staff stands in front of Air China Ltd. baggage drop counters for domestic flights at Beijing Capital International Airport ahead of Lunar New Year. Yan Cong/Bloomberg via Getty Images.

After an 84 percent drop in arrivals last year — a sharper decline than the 74 percent contraction felt globally — the Fitch Group predicts that international travel flows across the Asia Pacific region will see a gradual return beginning in the second half of 2021.

The forecast signals more stagnancy ahead for retailers in markets dependent on Chinese tourists, like Japanese department stores. But it is good news for a cohort of retailers, including duty free players DFS, that are investing in domestic travel hotspots like Hainan as domestic demand gains ground.

Despite the region’s progress in containing and recovering from Covid-19, international flights remain largely on hold. Strict border controls remain in place and even after restrictions are lifted following vaccine rollouts, the credit rating agency projects that arrivals will remain “well below pre-pandemic levels” with a wider rebound in APAC tourism likely to occur after 2021.

In This Article

© 2021 The Business of Fashion. All rights reserved. For more information read our Terms & Conditions

The Business of Fashion

Agenda-setting intelligence, analysis and advice for the global fashion community.
CONNECT WITH US ON
Case On Set a New Pace For Sportswear?
© 2022 The Business of Fashion. All rights reserved. For more information read our Terms & Conditions and Privacy policy.
Case On Set a New Pace For Sportswear?