Trip.com Group, the world’s leading travel service provider, is proactively embracing emerging trends and opportunities in the post-pandemic travel scenario by providing valuable insights at the World Economic Forum (WEF). Jane Sun, CEO of Trip.com Group, shared her positive outlook for sustained growth in Asia at the Standard Chartered Bank Asia Panel entitled “Asia – the world’s next growth anchor?” , provided insight into China’s investment potential. It was held at the WEF Annual General Meeting in Davos, Switzerland from January 15th to 19th.

As influential figures from government, business and civil society gather at the Davos Summit, a Standard Chartered panel brought together key players to consider the exciting prospects and challenges arising in Asian markets. Son was also joined by Geoff Lee of Malaysian sovereign wealth fund Khazanah Nasional Berhad and Roy Gori, president and CEO of Manulife, Canada’s largest insurance company. The panel was moderated by Ben Hung, CEO of Standard Chartered Bank Asia.

As global tourism steadily recovers, Trip.com Group sees strong interest in bookings in Asia, with Thailand, Japan and South Korea among the top destinations. . Rising consumer incomes are accelerating the trend towards high-quality wellness experiences and event tourism, especially popular events such as concerts and music festivals.

A major shift towards sustainable tourism is underway, with more than 16 million Trip.com Group customers choosing low-carbon travel options such as eco-friendly hotels. The Group has also prioritized options such as electric car rental and low-carbon-emission flights.

Mr. Son focused on China’s economic trajectory post-pandemic and highlighted investment opportunities that may be undervalued. He cited China’s huge size, fluctuating purchasing power and diverse industries as sources of promising investment opportunities, highlighting growing sectors such as travel, wellness and entertainment.

Mr. Son expressed confidence in the growth of the travel and tourism industry, citing positive developments such as increased flight capacity and expanded visa-free arrangements to facilitate international travel to and from China. He highlighted recent visa-free policies for Malaysia and European countries, as well as plans for reciprocal visa-free arrangements with Singapore and Thailand.

Countries with visa-free arrangements and relaxed visa policies, such as Singapore, Thailand and Malaysia, are top choices for Chinese tourists for the upcoming Lunar New Year, according to Trip.com Group data. The China Travel Guide, launched in September 2023, has supported nearly 100,000 overseas travelers planning to visit China, and orders for overseas travel during the Lunar New Year holidays have increased approximately 20 times compared to the previous year. It increased rapidly.

As China’s economic situation evolves, Sun advised businesses to closely monitor policy and market developments, leverage data on emerging trends, and quickly adapt their strategies. She emphasized the importance of building strong local partnerships and understanding cultural nuances to overcome complexities and capitalize on the potential of the Chinese market.

Son asserted that Asia’s overall economy will continue to see strong growth prospects, driven by an e-commerce boom, digital payments and improved connectivity. She advised global companies developing their 2024 Asia strategies to prioritize agility and stay responsive to changes in market trends, regulatory landscapes, and consumer behavior.

“Looking five to 10 years ahead, the region’s resilience and innovation potential will continue to drive Asia’s strong growth prospects,” Son said. “With its dynamic economy and technological advances, Asia plays an important role in world affairs.”

« Return to page