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Strong travel rebound expected in 2024: Trip.com CEO
  + stars: | 2024-02-09 | by ( ) www.cnbc.com   time to read: 1 min
Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailStrong travel rebound expected in 2024: Trip.com CEOJane Sun, CEO of Trip.com, talks about how the Lunar New Year festivities in China help boost travel, with more than 80 million people journeying over the spring festival.
Persons: Jane Sun Organizations: Trip.com Locations: China
Travel within China has 'recovered very strongly': Trip.com CEO
  + stars: | 2024-01-18 | by ( ) www.cnbc.com   time to read: 1 min
Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailTravel within China has 'recovered very strongly': Trip.com CEOTravel within China has "recovered very strongly," according to Jane Sun, CEO of vacation booking site Trip.com.
Persons: Jane Sun Locations: China
Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailStrong demand from Chinese citizens to travel to rural China, says Trip.comTrip.com Group CEO Jane Sun and co-founder James Liang discuss why the company is developing tourism in rural China.
Persons: Trip.com, Jane Sun, James Liang Locations: China
Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailThese are the top 3 countries travelers want to visit in Asia, Europe and the Middle EastJane Sun, CEO of Trip.com Group, says Singapore, Thailand and Malaysia are the top three countries in Asia.
Persons: Jane Sun Organizations: Jane, Trip.com Locations: Asia, Europe, Singapore, Thailand, Malaysia
Both figures were lower than what Chinese state media had earlier cited the ministry as predicting: 896 million trips and 782.5 billion yuan in domestic tourism revenue. Golden Week domestic tourism revenue was 753.43 billion yuan ($103.24 billion) — a 1.5% increase from that in 2019, according to China's Ministry of Culture and Tourism . The number of domestic tourist trips rose by 4.1% from 2019 to 826 million during the latest eight-day holiday, the ministry said. BEIJING — China's big "Golden Week" holiday saw domestic tourism rebound to around pre-pandemic levels, while overseas travel had yet to fully recover, according to official figures. That was also below earlier predictions, reported by state media, which forecast nearly 1.6 million trips across the border a day.
Persons: Morgan, Robin Xing, Morgan Stanley, Trip.com, Jane Sun, CNBC's Eunice Yoon Organizations: China, Golden, China's Ministry of Culture, Tourism, BEIJING, National Immigration Administration, China's Labor Locations: China, Beijing, Thailand, Singapore, Malaysia, South Korea, Switzerland, Spain, Turkey, France, Europe
Outbound travel from China is surging ahead of the first "Golden Week" holiday period since the country has allowed international travel to resume and even as China's economic growth has slowed. Golden Week, which begins Oct. 1 this year, marks the annual weeklong period that includes the Mid-Autumn Festival and National Day in China. Trip.com said bookings for travel within China are up by four times compared with last year's Golden Week, with residents opting to travel between different provinces for longer periods of time. Northwest China's autumnal tours and South China's comfortable climate have made those destinations particularly popular, Trip.com said. Golden Week typically spurs hundreds of millions in China to travel.
Persons: Trip.com, Jane Sun, Sun, China — Organizations: International Airport, Beijing Capital International Locations: Shanghai, China, Singapore, Australia, Thailand, Sri Lanka, Uzbekistan, Covid, United Kingdom, South Korea
Long wait times for visa applications are keeping people in China from traveling internationally as much as they'd like to, Jane Sun, CEO of travel booking site Trip.com , told CNBC's Eunice Yoon. For example, applications for a Schengen visa take two to six months, Sun said, "which is too long." She claimed demand for international travel from China has "far exceeded" the 2019 level, before the pandemic. Demand for domestic travel has exceeded the 2019 level by 60%, she said. As of August, the U.S. only allowed 12 round-trip passenger flights a week from China to the U.S. That was slated to increase to 18 a week starting Sept. 1, and 24 a week starting Oct. 29.
Persons: Long, Jane Sun, CNBC's Eunice Yoon, Sun Organizations: U.S Locations: China, U.S
Decide where you will live in retirement— Key deadline to watch: The sooner, the better. While you may start your Social Security retirement benefits as early as age 62, eligibility for Medicare generally does not start until age 65. Choose when to claim Social Security benefits— Key deadline to watch: By age 60, you should go to the Social Security Administration website and review your statement, recommends Copeland. When to claim Social Security retirement benefits is one of the big questions retirees face. "The later you can file for Social Security, the better it is as far as the amount you're going to get," John said.
Persons: Craig Copeland, Copeland, Dann Tardif, Susan Reinhard, It's, Reinhard, Jane Sung, Sung, Rupp, John Organizations: AARP, Institute, Social, Medicare, Security, State Health Insurance, Social Security, Social Security Administration, Sporrer, Getty
Claiming Social Security benefits• Key deadline to watch: By age 60, you should go to the Social Security Administration website and review your statement, recommends Craig Copeland, director of wealth benefits research at EBRI. When to claim Social Security retirement benefits is one of the big questions retirees face. At full retirement age — 66 or 67, depending on your date of birth — you will receive 100% of the benefits you earned. "The later you can file for Social Security, the better it is as far as the amount you're going to get," John said. While you may start your Social Security retirement benefits at age 62, eligibility for Medicare generally does not start until age 65.
D3sign | Moment | Getty ImagesChina is facing a population crisis in part due to more women choosing to focus on their careers and personal goals, instead of starting a family. Helping women strike the balanceTrip.com is one Chinese company that takes pride in trying to encourage more women to have children. Women in China who want to freeze their eggs must be married, according to Chinese regulations. However, some women in China want children but may not be ready to get married, said Mu the assistant professor from NUH. Shannon a single motherAdditionally, women who divorce after having children face social stigma and struggle to balance their career while raising a child alone.
But passengers in Asia Pacific are currently grappling with bigger price jumps than other regions, highlighting the uneven global recovery. Economy fares to Asia from North America and Europe are set to rise 9.5% and 9.8% this year from last year, respectively, Amex GBT forecasts show. “In the markets where restrictions have been the last to lift, and hence [flight] capacity last to be restarted, the difference in fares is the highest,” said Aitken. Despite China’s reopening, outbound flight capacity “is currently only at 15% to 20% of pre-Covid levels,” according to Trip.com (TCOM) CEO Jane Sun. The restrictions have remained, and those most heavily impacted are between Asia and North America or Europe.
Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailTrip.com Group's CEO discusses what the company is doing to support womenJane Sun of the online travel firm outlines its policies with that aim, such as paying for egg freezing.
DAVOS, Switzerland, Jan 17 (Reuters) - Travel website operator Trip.com Group Ltd (9961.HK) is working with airlines and airports to encourage recovery in China's cross-border travel capacity and hopes levels will return to normal by the third quarter, its CEO Jane Sun said on Tuesday. "Domestic travel for Chinese people travelling within China has already recovered to 2019 levels very rapidly," Sun told Reuters on the sidelines of the forum in the ski resort of Davos. At least one study has also pointed to some hesitancy over outbound travel among Chinese residents. The pandemic had reshaped demands from Chinese travellers, Sun said. Trip.com is one of the world's largest online travel agencies with over 400 million users, most of them in China.
Darden Restaurants — Shares of Olive Garden's parent company fell more than 4% after Darden's fiscal first-quarter results showed lighter-than-expected revenue. The company reported $1.56 in earnings per share on $2.45 billion of revenue. Eli Lilly — The pharmaceutical stock climbed 4.2% after UBS upgraded Eli Lilly to buy from neutral. KB Home – Shares of homebuilder KB Home slipped 4% after the company reported earnings that disappointed Wall Street's revenue expectations. The company reported $3.13 in adjusted earnings per share, below the $3.20 anticipated by analysts, according to Refinitiv.
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