I was very excited with travel bubble plans between countries a few months back. Well, it has not happened yet but here’s another super high potential travel bubble happening between Hong Kong and Singapore. It seems that it will become a reality within weeks.
Article in SCMP.com Hong Kong and Singapore announced a landmark agreement for a travel bubble for general travel within weeks. This will involve travellers showing negative test results for the coronavirus and there are no restrictions on purpose of travel as well as any controlled itineraries. This is a a quarantine-free travel bubble and with this announcement, the searches by travel-deprived Hong Kongers for a flight to Singapore jumped 400 percent.
On Thursday, these were the flight ticket prices for Cathay Pacific and Singapore Airlines (SIA). Cathay Pacific was offering a round-trip, economy class trip leaving Hong Kong in December beginning at HK$2,097, while a similar SIA ticket was priced at HK$1,947. By Friday, Cathay was offering the same ticket on the same date for HK$3,297, while SIA was selling theirs for HK$2,397. Do read the article in full here yeah.
Let us also note that COVID-19 vaccine news show that the vaccines are becoming a reality in the near future too. Perhaps it will be a few months after this travel bubble but once this becomes common, there is no need for any specific travel bubble. Perhaps not between countries with still a high number of cases lah. However, for countries which seemed to have gotten the numbers under control, travel bubble can be easily implemented.
Perhaps into a specific state and not the whole country? Yes, if the countries consider it safe, I do think many would take it up and this will start to throw a lifeline to many struggling airlines and the whole tourism industry too. For many countries, earning foreign currencies would help tremendously too since exports may have also been affected badly too. Of course, if the whole economy moves, then in the very near future, the property market will be positive too.
Love to be updated on all investment news? Sign up for KopiWeekly. (only once per week of property, finance, investment news and more)
Next suggested article: 7 great reasons why secondary market is worth a serious look