Key Takeaways:

  • Travel has picked up somewhat though more in the West than in Asia.

  • Chinese citizens should continue to shop domestically for the better part of the next 12 months.

  • Continue to focus on locals as the cake; tourists will be the cherry.

I remember when COVID-19 cases started to mount across the globe in March 2020, observers were thinking this could initially compromise summer 2020 travel and then, the Holiday season. Now, we are 18 months into the outbreak and it’s starting to be pretty clear that long haul travel won’t be up and running until late 2022 or early 2023. According to the IATA statistics, the month of July 2021 showed a significant improvement from June 2021 but still showed international passenger demand down 74 percent relative to July 2019 and domestic travel down 16 percent. While that’s progress for sure, it’s not exactly impressive and if luxury demand were correlated to long haul travel as much…

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