DATA from travel intelligence company ForwardKeys found that air travel bookings from China have slowed sharply over the past three months, especially to Europe and the US.
This closely mirrors the decline in the country’s stock market, according to ForwardKeys.
Total outbound international bookings fell from a growth of 21 per cent year-on-year, to just 1 per cent since the Shanghai Composite hit its peak. The decline was worsened by lower Chinese purchasing power as a result of the weaker yuan.
ForwardKeys data shows that the biggest fall was in August when growth in outbound bookings turned negative, but departures from China from September to December 2015 will still grow compared with the same period last year.
Data also shows travel during the impending Golden Week national holiday from October 1 to 7 should not be affected because bookings were made months in advance.
However, bookings to Europe and the US for November and December 2015 are lagging behind the volumes for the same period last year, a reflection of the impact the weaker Chinese currency is making on travel decisions.
Olivier Jager, co-founder and CEO of ForwardKeys, said: “The prospects for the low season after Golden Week are still uncertain because Chinese travellers are becoming late bookers.”
