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    Reuters Videos

    China travel rebound flags amid costs, visa snags

    STORY: Chinese travellers were supposed to get back in the air, and back in the shops, after the the end of lockdowns. But the signs are that a travel rebound is fading away, and that’s bad news for tourism businesses everywhere. Eighteen months after China reopened its borders, travel numbers are well behind market expectations. Last year saw Chinese people take 87 million trips abroad - that’s still down 40% on the pre-COVID era. UN data show they spent 24% less than in 2019, while spending by U.S. travelers was up 14%. It’s all a concern for holiday firms and retailers, with Chinese travelers the world’s top spenders on international tourism and airlines. Popular destinations for the country’s tourists - like France, Australia and the U.S. - may feel a particular hit. A decline in the value of China’s yuan currency is one factor, as it makes overseas travel more costly. High unemployment and a sluggish economy have also cut spending power. All that may have pushed people towards domestic travel, which has boomed even as international demand proved weak. Chinese travelers also complain of the time and difficulty in getting visas for some destinations, particularly in Europe.That leaves the number of them traveling to France at barely more than a quarter of pre-health crisis levels. Capacity on air routes to the U.S. remains down 80%, with political tensions not helping either.By contrast, countries that offer visa-free access - including Singapore, Malaysia and Thailand - have seen rising demand. Japan has also seen a surge, helped by a weak yen that makes it a more affordable destination.

  • Business
    WSJ

    Why Dollar Tree Is Looking to Cut Its Losses With Family Dollar

    Dollar Tree announced in June that it’s looking to sell or spin off Family Dollar, a brand it acquired in 2015 for roughly $9 billion. We break down why Family Dollar has struggled to increase sales for years. Photo: Associated Press

  • Sport
    Reuters Videos

    England fans content with narrow Serbia victory

    STORY: :: England fans celebrate a narrow 1-0 win over Serbia at the Euro 2024:: Gelsenkirchen, Germany:: June 16, 2024 “Game of two halves. First half, very good, second half not so much, just give Jude Bellingham the ball, we’ll win the tournament. Come on England.”“We could have played better in personal opinion. But: job’s done, a win is a win. Win is a win in our opinion."“Who cares if it’s tough, we won. Who cares, three points, plus three points, mate, that’s all that matters to me.”A powerful first-half header by Jude Bellingham saw England bag all three points.Serbia upped their game at the start of the second half after bringing on Ivan Ilic for defensive midfielder Nemanja Gudelj, and before long striker Dusan Vlahovic swept a cross dangerously across England's box, rousing their fans.But England, with an unfamiliar-looking defence that featured the impressive Marc Guehi, playing in a major tournament for the first time, and right-footed Kieran Trippier standing in as left back, held out for the win.England next play Denmark on Thursday (June 20) after Serbia take on Slovenia.