Latest news with #GeorgeFerguson
Yahoo
11-07-2025
- Business
- Yahoo
Demand Returns for Delta, Sets New Profit Target
Delta Air Lines Inc. issued a new profit target for this year after pulling the goal three months ago, in a sign that demand is bouncing back from the initial shock over US President Donald Trump's tariff war. Earnings came in above Wall Street estimates. The stock rose in the premarket. George Ferguson on Bloomberg Intelligence speaks on "Bloomberg Intelligence." 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
Bloomberg
10-07-2025
- Business
- Bloomberg
Demand Returns for Delta, Sets New Profit Target
Delta Air Lines Inc. issued a new profit target for this year after pulling the goal three months ago, in a sign that demand is bouncing back from the initial shock over US President Donald Trump's tariff war. Earnings came in above Wall Street estimates. The stock rose in the premarket. George Ferguson on Bloomberg Intelligence speaks on "Bloomberg Intelligence." (Source: Bloomberg)
Business Times
02-07-2025
- Business
- Business Times
Chinese tourists crown Vietnam, sideline Thailand
[SINGAPORE] Chinese tourists are reshaping travel trends in South-east Asia, with Vietnam and Malaysia gaining ground while Thailand, the traditional hot spot, is seeing visitor growth stall amid currency swings, safety concerns and China's economic headwinds. For more than a decade, Chinese tourists have been the backbone of South-east Asia's tourism engine, filling hotels, malls and tour buses. But the long-awaited post-pandemic rebound is proving uneven, raising warning signs for some countries and cheers in others. During the first six months of 2025, foreign tourist arrivals in Thailand were down 4.2 per cent from the corresponding period in the previous year, with 16 million tourist arrivals, according to a recent announcement by Thailand's Ministry of Sports and Tourism. A major drag came from the slowdown in Chinese visitors, who accounted for just under 14 per cent of Thailand's total arrivals in the first five months of 2025. That marks a sharp drop from about 28 per cent in 2019 before the pandemic and 19 per cent in 2024, based on data from the Bank of America. On the other hand, Vietnam has emerged as an unexpected winner. Chinese arrivals to the country surged more than 78 per cent in the first quarter of 2025 from the same period last year, surpassing Thailand by about 200,000 visitors as tourists flocked to luxury resorts and beaches in popular coastal areas Da Nang and Nha Trang. A NEWSLETTER FOR YOU Friday, 8.30 am Asean Business Business insights centering on South-east Asia's fast-growing economies. Sign Up Sign Up Thailand received nearly twice as many Chinese travellers in 2024 as its coastal neighbour. 'This might be the first time Thailand has been outpaced by another South-east Asian rival,' Bloomberg Intelligence analysts Eric Zhu and George Ferguson wrote on Jun 24. Vietnam led the region in overall tourism growth in the first four months of 2025, with arrivals up 23.8 per cent, while Malaysia came in second with 10.5 per cent growth on the year. Meanwhile, Indonesia experienced a 5.6 per cent rise, while the Philippines and Thailand recorded declines of 0.8 per cent and 0.3 per cent, respectively. Currency shifts, safety woes Currency shifts are part of the story, with the Chinese yuan falling 10.5 per cent against the Thai baht over the past year. This has diminished Thailand's longstanding allure as an affordable destination for Chinese tourists, wrote Zhu and Ferguson. By contrast, the yuan has appreciated against the Vietnamese dong and the Indonesian rupiah, offering Chinese travellers a spending boost in these countries. But the region's reputation as a whole has also taken a hit amid rising safety concerns. A kidnapping involving a Chinese actor in Thailand in January, as well as a March earthquake, have painted a less rosy portrait of China's southern neighbours, such as Laos, Cambodia and Thailand, which have already been battling reputations as hot spots for illegal activity. Meanwhile, relatively safer alternatives, including Japan and South Korea, have witnessed Chinese arrivals surge, with Japan reporting a 68 per cent rise in early 2025, while Chinese travel to South Korea similarly increased 10 per cent, Bloomberg Intelligence noted. Chinese woes While Malaysia, Vietnam and Singapore have seen upticks in Chinese arrivals, the numbers pale in comparison to pre-Covid Chinese visits to the region. Countries that have traditionally relied on mainland China as a significant driver of economic growth now face a double whammy as Chinese economic woes slow outbound travel, and external headwinds may push the remaining travellers into alternative markets. Most vulnerable are Malaysia and Thailand, where tourism accounted for around 14 per cent and 12 per cent of gross domestic product, respectively, in 2024. Hot spots such as Penang and Kuala Lumpur in Malaysia, and Bangkok and Phuket in Thailand, have traditionally been popular among Chinese tourists to the region. Grim economic prospects have also affected spending patterns among younger travellers from China, with a Bloomberg Intelligence survey of the country's travel sentiment noting that international travel budgets have fallen 23 percentage points from April last year. 'Younger travellers indicated greater caution about spending, likely a reflection of the tougher economic challenges they are facing,' the analysts wrote. 'Special forces travellers' Younger Chinese tourists, often calling themselves 'special forces travellers' on social media platforms, have opted for shorter, cheaper and more tightly packed itineraries. These travellers are spontaneous and driven by social media trends, making their habits harder to predict, said Chai Boon Sian, managing director and vice-president of international markets at On platforms such as Xiaohongshu or Douyin, for instance, seemingly random or everyday locations can attain viral popularity online as tourist attractions, such as an oddly colourful Maybank branch in Kota Kinabalu, Malaysia. 'Rather than the Merlion and the Petronas Twin Towers, we now see the Chinese chasing experiences in less-travelled places,' he said. Locations such as Cambodia, Brunei, Semporna in Malaysia, and Phu Quoc island in Vietnam have witnessed surprising demand, Chai told The Business Times. 'Before the pandemic, people travelled in large tour groups by the busloads. Now, younger Chinese travel in smaller groups and stay for shorter periods,' said Chai. This has made it difficult to forecast when a return to pre-pandemic volume within the region might happen, Chai noted. 'It's hard to say, given the changing travel preferences and group sizes,' he said. However, he expected the present slump to eventually rebound in the longer term. 'The sheer size of the Chinese population means that travel demand will remain strong, even with current economic headwinds.' Chai has observed a lasting shift in spending patterns that may spark hope for the tourism sector. 'Unlike older generations who budgeted carefully, the younger generation spend what they want,' Chai added. 'They're not afraid to spend first and figure out savings later.' Indeed, industry group World Travel and Tourism Council (WTTC) forecast that Chinese spending on international holidays would outpace pre-Covid-19 levels in 2025, after the country's reopening in 2024 fell short of spending forecasts by about 11 per cent. Rebound hopes The faltering demand for Chinese tourism is not something that local operators and governments are brushing aside; instead, they are taking concerted efforts to reboot demand from Asia's largest economy. The Tourism Authority of Thailand has initiated campaigns aimed specifically at attracting Chinese travellers to the kingdom. Its efforts include joint marketing campaigns with partners such as travel agencies and airlines. Meanwhile, the Thai tourism ministry has also planned tourist subsidies of up to 1.8 billion baht (S$70.6 million) to boost the country's attractiveness during the slow season. Private players are also working with governments to restore momentum. Last year, Singapore-based online travel agency tied up with Malaysia's tourism authority to draw more Chinese tourists to the country. Governments have also loosened visa requirements. Malaysia in April extended its visa-free policy for Chinese tourists visiting for up to 90 days by five years, having introduced the initiative in December 2023. The country reported about 3.3 million Chinese tourists arriving in 2024, up from 1.5 million in 2023. Likewise, Singapore in February 2024 exempted visa requirements for visits of up to 30 days for Chinese travellers. With higher populations of Mandarin speakers in the region, both Singapore and Malaysia have largely remained attractive to tourists due to linguistic familiarity, Chai explained. For this reason, service providers are starting to incorporate 'China-friendly' hospitality: from Mandarin-speaking staff and Chinese-style breakfasts in Vietnamese and Thai hotels, to retailers accepting Chinese payment services such as Alipay and having access to translation apps. 'Chinese tourists prefer familiar comforts,' Chai noted. Domestic travel booms Instead of venturing southward, an increasing number of Chinese tourists now opt for travel within the mainland. Less-expensive trips closer to home are becoming increasingly popular, including journeys by road and train, the WTTC found in an April report. Research by the council forecast that domestic travel spending will hit nearly US$1 trillion in 2025 in a 19 per cent jump from the previous year, as the country makes moves to boost domestic consumption through retail and tourism spending. Similarly, Bloomberg Intelligence's survey found that just 47 per cent of travellers had intentions to venture abroad in the third quarter – typically the most in-demand period for tourism. This was the lowest recorded figure across the last four quarters, wrote Zhu and Ferguson, while demand for domestic travel held steady at around 71 per cent.
BreakingNews.ie
19-06-2025
- General
- BreakingNews.ie
Living example of traditional farmland safeguarded for nature
An area of farmland in Co Fermanagh has been preserved as a nature reserve. The 90-acre area at Fedian has been described as brimming with wildflower meadows, bird-friendly hedgerows and ancient woodland. Advertisement It has now been purchased by nature conservation charity Ulster Wildlife as its newest nature reserve thanks to funding support from The National Lottery Heritage Fund, The Wildlife Trusts, and gifts in wills from Ulster Wildlife supporters. Fedian Nature Reserve, located close to Derrygonnelly is termed as a living example of traditional farmland, previously owned by the Nixon family and sympathetically managed by local grazier George Ferguson. It is untouched by modern farming methods such as fertiliser and slurry, and its habitats have become a haven for wildlife, including threatened species such as red squirrels, pine martens and otters as well as woodcocks, marsh fritillary butterflies and a wealth of wildflowers. The red squirrel is one of several threatened species now protected at the ancient woodland of Fedian Nature Reserve. Photo: Ulster Wildlife/Adam Gerrard Peter McEvoy, Director of Land Management at Ulster Wildlife, said it is a special place. Advertisement 'When we first stepped foot on Fedian over eight years ago through our Environmental Farming Scheme Group programme, we knew it was a special place, reminiscent of fields that time had forgotten,' he said. 'It is home to one of the few remaining remnants of species-rich grassland and centuries-old woodland in Northern Ireland – two vanishing landscape types that tell the story of what's been lost, and what we still have time to protect. 'This was a once-in-a-lifetime opportunity to secure a site of exceptional nature value, something that would take tens, if not hundreds, of years to recreate.' Dr Paul Mullan, Northern Ireland director at The National Lottery Heritage Fund, said it awarded £150,000 (€175,000) to help acquire the grasslands of Fedian. Advertisement 'We're committed to supporting nature recovery, and with Ulster Wildlife securing this haven for nature, it means that this vital habitat and the species found there can thrive,' he said. 'It's a wonderful example of our natural heritage, combining precious, ancient woodland and an intact example of pre-war farmland. 'We're so pleased that people will be able to connect with this untouched landscape, whether through its use as a nature-friendly farming demonstration site or on a guided walk.' Ulster Wildlife said Fedian Nature Reserve will continue to be actively farmed, with low numbers of cattle grazed across the site to maintain the wildflower-rich grasslands awash with orchids in summer, from early purple to yellow bird's nest, to swathes of devil's bit scabious. Advertisement Ireland Windfarm must shut down three turbines and pay €36... Read More They also said grazing is vital to ensure the population of Europe's most threatened butterflies, the marsh fritillary, which thrives there, along with the locally rare dingy skipper butterfly. It will not be open for general public access, but will serve as a model for nature-friendly farming, with the charity hosting demonstration events, knowledge-sharing with local farmers, and annual guided walks for the community and Ulster Wildlife members. Mr McEvoy added: 'This is not just about protecting a unique wildlife haven; it's about demonstrating what farming and nature conservation can look like side by side. 'Our aim is for Fedian Nature Reserve to become a beacon for nature-friendly land management, and we're delighted to have been able to secure its future for generations to come.'
Bloomberg
13-05-2025
- Business
- Bloomberg
China Removes Boeing Ban After US Trade Truce
Bloomberg's George Ferguson talks China's decision to lift the month-long ban on Boeing deliveries in the days following a short-term trade agreement between the US and China. (Source: Bloomberg)
