TAIPEI (TVBS News) — China announced plans on Friday (Jan. 17) to resume group tours to Taiwan for residents of Fujian and Shanghai, boosting Taiwan's tourism stocks by 3.5%. The announcement by China's Ministry of Culture and Tourism (中國文化和旅遊部) sparked excitement in the market, with preparations for the tours already underway.
The news propelled Taiwan's listed tourism stocks, with Lion Travel Service (雄獅旅行社) surging over 6% and Phoenix Tours International (鳳凰旅行社) climbing more than 9%. Hotel stocks, including My Humble House Group (寒舍), Leofoo Development (六福), Chateau Beach Resort (夏都), Fleur de Chine (雲品), and Regent Taipei (晶華), saw significant gains, while over-the-counter tourism stocks rose more than 2%.
Travel agencies and hotel stocks like Star Travel (燦星旅), Hoya Resort Hotel Group (富野), Richmond Tours (山富), Life Tour (五福), and CJW International (寶得利) hit the daily limit up in early trading. Ezfly International Travel Agent (易飛網) and Hotel Royal Group (老爺知也) surged over 9%. If cross-strait travel loosens further, aviation stocks could benefit, with EVA Air (長榮航) rising over 3.6% to a record high, China Airlines (華航) climbing more than 3%, and STARLUX Airlines (星宇航空) increasing by about 2%.
Huang Jeng-tsong (黃正聰), an associate professor at Providence University (靜宜大學), estimated that if the plan proceeds smoothly, the number of Chinese tourists could reach 400,000 in 2024 and potentially 800,000 in 2025. However, a travel agency executive noted that Taiwan's tourism industry has adapted by attracting diverse international visitors, proving that it can thrive without Chinese tourists.
