How The Steep Decline In Chinese Tourists Will Cost The U.S. More Than $20 Billion | 300 million smokers and counting: Why China just can’t kick its cigarette habit | Rishi Sunak faces fresh conflict of interest row over India trade talks

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You Might Like � � � You Might Like � � � � � � � � � Don't like ads? Go ad-free with TradeBriefs Premium How The Steep Decline In Chinese Tourists Will Cost The U.S. More Than $20 Billion    Two weeks ago, China announced it is lifting restrictions on group travel to the United States and several other countries, a move that U.S. Commerce Secretary Gina Raimondo hailed as “a significant win for the U.S. travel and tourism industry.” Then she cut to the heart of the matter: U.S. tourism officials are pining for the return of Chinese tourists, by far the biggest spenders among global travelers. “Before Covid,” Raimondo said, “as many as three million Chinese travelers visited the United States annually, contributing more than $30 billion to the U.S. economy.” In 2019, 2.8 million Chinese visitors accounted for only 4% of all inbound foreign travelers to the U.S., yet they accounted for 13% of spending. This year, fewer than 850,000 Chinese will travel here, according to the National Travel & Tourism Office (NTTO), the agency within the U.S. Department of Commerce that tracks tourism statistics. That 68% drop in traveler volume translates to more than $20 billion that Chinese visitors will not spend in the U.S. this year. Three months after the official end of the pandemic, the U.S. tourism industry is still in recovery mode. Before Covid, 79.4 million international visitors to the U.S. injected roughly $239 billion into the national economy, accounting for nearly 10% of America’s total exports and services. In 2023, the U.S. expects to welcome 62.8 million foreign visitors–a 21% year-over-year jump but still 21% below pre-Covid numbers. Inbound travel volume to the U.S. is not expected to hit pre-pandemic levels until 2025. Continued here 300 million smokers and counting: Why China just can't kick its cigarette habit    BEIJING - Twenty years after adopting the World Health Organisation (WHO) Framework Convention on Tobacco Control (FCTC), China is still addicted to cigarettes. The world’s largest producer and consumer of tobacco, the country has an estimated 300 million smokers, nearly a third of the world’s total. Despite years of anti-smoking campaigns – Chinese President Xi Jinping reportedly gave up smoking in his 40s and banned smoking in government buildings – many continue to light up, driven by social mores, cheap cigarettes, a lack of public education and, crucially, the protection of Big Tobacco. Continued here You Might Like � � � � � � � � � Rishi Sunak faces fresh conflict of interest row over India trade talks    Exclusive: Labour has called for more financial transparency after it was revealed the prime minister’s wife’s shares could benefit from the agreement Rishi Sunak faces a new conflict of interest row before a G20 summit in New Delhi next month over claims that his family could stand to benefit financially from a post-Brexit trade deal that he is negotiating with India. MPs and trade experts say there are concerns at the highest levels of government over potential “transparency” issues relating to his wife Akshata Murty’s shareholding – worth almost £500m – in the massive Bengaluru-based international IT services and consultancy company Infosys. Continued here

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