Heard on the Street: A decline in Chinese tourists may not deal a serious blow to the U.S. but could cause hamper the education and luxury sectors
A group of Chinese graduates throw their hats into the sky after a ceremony at Columbia University in New York, in 2016. Photo: Li Muzi/Zuma Press By Jacky Wong June 5, 2019 5:58 a.m. ET China’s army of globe-trotting tourists has been a handy economic weapon. This may not work as well against the U.S., but could nonetheless cause some damage to sectors such as education and luxury goods.
China has before weaponized its outbound tourists, which amounted to 162 million last year. Two years ago, the government temporarily banned group tours to South Korea, according to local media there, in protest of Seoul’s decision to install a U.S. missile-defense system. The number of Chinese visitors to Korea fell 48% in 2017 as a result.
Yet the impact will be much less severe compared with the unofficial South Korea ban in 2017. For one, Chinese tourists accounted for nearly half of the total visitors to Korea in 2016, while they made up less than 4% of visitors to the U.S. last year. So even if there is a precipitous drop, U.S. sectors such as hotels or airlines will likely still do fine.
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