Chinese aircraft carrier and naval fleet in Hong Kong for five-day visit
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China's first Legoland opens to tourists in Shanghai
Thousands of local tourists poured into China's first-ever Legoland as it opened its gates in Shanghai on Saturday, the latest theme park hoping to capitalise on a domestic tourism boom. The Chinese branch of the British-owned theme park franchise is the biggest Legoland in the world. It drew in early customers who flocked to attractions including a miniature train ride and a dragon-themed rollercoaster. "I personally love to play with Lego blocks and we have many sets at home... so I wanted to come to Legoland at the earliest opportunity," said Shi, a 35-year-old resident of nearby city Hangzhou, who was visiting the park with his wife and child. Despite the Chinese economy's sluggish growth in recent years, domestic tourist spending grew 18.6 percent in the first quarter of this year compared to the previous year, according to statistics. "Ever since the pandemic, I've made very few trips abroad," said Shi, adding his family now travels to theme parks around China "many times a year". Eager Lego fans rushed into the park as soon as it opened, wearing themed shirts and waving branded flags as they enjoyed the 318,000-square-metre (78.5-acre) compound in scorching temperatures. Beijing has announced subsidies intended to make travelling within the country more affordable for Chinese citizens, and is pushing local governments to heavily market their attractions on social media. Companies have taken note of the wider local tourism boom and stepped up their plans in China. A new "Spider-Man" attraction at Shanghai Disneyland broke ground in May, while Warner Brothers is set to open a Harry Potter experience in Shanghai by 2027. Toy giant Hasbro said this week its giant Peppa Pig park in the city was now "in the phase of creative design". Chinese collectable toy maker Pop Mart has also opened an attraction in Beijing featuring life-sized versions of its popular Labubu toys. "The various provinces are putting a lot of effort into expanding their tourism industries, and all of them have special attractions," said Xu, a 34-year-old parent visiting Legoland on Saturday with his children. But profitability remains a problem, especially for local companies with less brand recognition. As of late 2024, around 40 percent of parks were still failing to turn a profit, according to state media reports. Yet analysts point to a growing population of retirees and job market changes as key factors pushing more locals to visit domestic attractions. "The labour market is turning more flexible," said Ernan Cui, China consumer analyst at Gavekal Research. "More people have leisure time to travel around." tjx/jfx Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
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3 hours ago
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Strange Reason Flights to This Popular Country Are Being Canceled
Japan's red-hot tourism boom just hit an unexpected turbulence thanks to an old comic book. Reuters reported that airlines are suspending flights, tours are being slashed in half, and travelers across Asia are rethinking their vacations, all because of a viral rumor predicting a catastrophic earthquake on July 5, 2025. The prediction didn't come from scientists. It came from the pages of a manga titled The Future I Saw by Ryo Tatsuki, first published in 1999. The comic gained a second life online after readers connected its reference to a 2011 disaster with recent claims that a new catastrophe would strike this summer. Panic quickly spread through social media, especially in Hong Kong, prompting widespread concern and real-world fallout. Hong Kong-based Greater Bay Airlines announced this week it would suspend service to Tokushima, Japan, citing weak demand. The airline isn't alone. Tour agencies like EGL Tours reported that bookings to Japan were cut in half, despite offering steep discounts and earthquake insurance to offset fears. 'The rumors have had a significant impact,' said Steve Huen, executive director at EGL Tours. Japan had recorded an all-time monthly high of 3.9 million international visitors in April. But in May, arrivals from Hong Kong dropped 11% compared to the previous year. Even individual travelers are second-guessing their plans. One visitor from Hong Kong told Reuters, 'If possible, I might delay my trip and go after September.' Japan sits along the Pacific Ring of Fire, where earthquakes are common, but experts say there's no scientific basis for the manga's claims. 'None of the predictions I've experienced in my scientific career have come close at all,' said University of Tokyo seismologist Robert Geller. Even the manga's author issued a statement saying she is not a prophet. Still, the damage has been done. While many travelers like Seattle's Serena Peng continue their trips, others are holding back. Airlines and tour operators are watching closely to see whether fear fades or lingers long enough to reshape Japan's tourism Reason Flights to This Popular Country Are Being Canceled first appeared on Men's Journal on Jul 5, 2025
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4 hours ago
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Macquarie Upgrades MakeMyTrip After Share Buyback Cuts Trip.com Stake
MakeMyTrip Limited (NASDAQ:MMYT) ranks among the best cyclical stocks to buy now. On June 24, Macquarie upgraded the shares of MakeMyTrip Limited (NASDAQ:MMYT) from Neutral to Outperform, citing enhanced risk-reward dynamics in the wake of a recent share-price fall. The upgrade followed MakeMyTrip's announcement of a $3.1 billion capital increase to lower stake. With a conversion price of $121.50, the capital consists of $1.43 billion in zero-coupon convertible notes due in 2030 and a primary share issuance of 18.4 million shares at $90 each. By repurchasing the majority of Class B shares, the company will reduce its ownership from 45.3% to roughly 17% and reduce its representation on the board from five to two seats. Macquarie analysts predict that the repurchase will result in a 12% decrease in MakeMyTrip's basic share count, which will be compensated for by newly issued shares. Online travel company MakeMyTrip Limited (NASDAQ:MMYT) offers a range of services and products, such as booking airline and bus tickets, vacation packages, hotel reservations, foreign exchange, and visa processing. While we acknowledge the potential of MMYT as an investment, we believe certain AI stocks offer greater upside potential and carry less downside risk. If you're looking for an extremely undervalued AI stock that also stands to benefit significantly from Trump-era tariffs and the onshoring trend, see our free report on the best short-term AI stock. Read More: and Disclosure: None. Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
