Net contribution / deduction of international tourism to / from GDP of Asian countries as a percentage (data for 2019). Source: Bloomberg Economics
The coronavirus border closures caused financial losses for most Asian countries, but for China it turned into a net profit, according to the results of a study conducted by Bloomberg Economics.
The main beneficiaries of the opening of borders in this region will be Thailand and New Zealand, which before the pandemic were leaders in the net balance of tourists (the number of tourists received minus the number of their own citizens who went on vacation to other countries – approx.), the chief economist of BE predicts Asia Chang Shu.
The resumption of international tourism after the opening of borders will bring the greatest losses to Singapore, China, South Korea and the Philippines, where the number of citizens going on holiday abroad exceeds the number of tourists received.