Fosun Tourism CEO on Delta Variant, Asia Demand, Travel Outlook

The transcript discusses the impact of COVID-19 on business in China and overseas, highlighting regional differences in travel restrictions and the recovery of the travel industry. It examines changes in travel and spending habits in China, the recovery of overseas markets, and the outlook for luxury travel within China. The discussion emphasizes the temporary nature of current restrictions and the potential for regional market recovery.

What was the impact of COVID-19 on business in the first half of 2020?

• There was a significant recovery in China and overseas.

• Business volume in China decreased by 170%.

• Business was unaffected by the pandemic.

• The pandemic had no impact on overseas markets.

What was the business performance in China in the first half of 2020?

• Business volume decreased by 50%.

• Business volume grew by over 170% year on year.

• There was no change in business volume.

• Business volume grew by 10%.

How did the new COVID-19 restrictions in China affect travel?

• All regions in China were equally affected.

• Travel was completely banned across China.

• Regional differences existed, with some areas still allowing travel.

• Travel was unrestricted in big cities.

What is 'revenge travel' as mentioned in the context of overseas markets?

• Traveling without any restrictions.

• A surge in travel demand following the easing of restrictions.

• Traveling to seek revenge on others.

• A decline in travel due to fear of COVID-19.

What was the impact of the pandemic on overseas markets in the first half of 2020?

• Most overseas resorts remained open.

• Overseas markets were unaffected by the pandemic.

• Most overseas resorts were closed due to the pandemic.

• Overseas markets saw a significant increase in travel.

What is the outlook for luxury and high-end travel within China?

• It will only recover in international markets.

• It is expected to decline significantly.

• It is expected to recover quickly in certain regions.

• It will remain stagnant for the foreseeable future.

What is the potential for regional recovery in China?

• Regional recovery is unlikely due to strict restrictions.

• Regional markets are expected to recover faster than cross-border travel.

• Only cross-border travel will recover quickly.

• Regional recovery is dependent on international markets.