And Consumer Confidence has been affected. So that average spending for a trip is been decreased compared to 2023. We are also seeing a lot of bookings for high speed trains, so many travellers opt for cheaper Regional Travel rather than flying. But we have seen the overall type of trips that people are booking a more diversified, so this isjust one part of the picture. Were seeing growing interest in high and brilliant travel inside and outside of china, a big rise in nature and coated travel, such as session one, debate, and The Mole dies, so more people are wanting to connect with nature and explore culture. Wanting to connect with nature and explore culture. Sichuan and explore culture. Sichuan and the maldives. And explore culture. Sichuan and the maldives. Does and explore culture. Sichuan and the maldives. Does that and the maldives. Does that mean some of the Stimulus Measures we are seeing is impacting or having an impact on people are willing to spend more . ~ ,. ,. , on people are willing to spend more . A. ,. , , more . Misdemeanours measures ma hel more . Misdemeanours measures may help in more . Misdemeanours measures may help in the more . Misdemeanours measures may help in the short more . Misdemeanours measures may help in the short term, more . Misdemeanours measures may help in the short term, but l may help in the short term, but actually we are seeing long Term Recovery for the Tourism Sector will depend on broader economic factors. The Stimulus Measures. Particularly Consumer Spending Power and employment levels. Financial stability is still essential for sustainable recovery and tourism. We want to also talk about the key theme of 2024, first, and we have seen Domestic Travel is the big shift and international, China International Tourism remain subdued at around 20 down the quarter compared to the same period pre pandemic levels. And a big decreases in china us capacity. And the stronger toward singapore and malaysia, so people are still doing international travel, but they tend to stay in the asia pacific region. Tend to stay in the asiapacific region. Tend to stay in the asiapacific reuion. ,. Asiapacific region. Joanna lu there. But while Consumer Spending may be muted, the golden week has boosted home sales, according to chinese state media. Cctv reported that the number of Home Viewings increased significantly over the holiday. The sales of homes also rose across the country. It comes after a string of Stimulus Measures were announced to prop up the sector, including lowering down payments for first time home buyers. Staying with china but turning to the Auto Industry because the European Union recently agreed to impose new tariffs on Electric Vehicles made in china. But it wasnt a unanimous vote. Many abstained in german opposed. The boss of german Carmaker Volkswagen says the European Union should exempt some companies from its tariffs on china made Electric Vehicles. For more, lets bring in the Asia Editor hans grimmel. Thank you forjoining me. Which European Countries are likely to benefit . It European Countries are likely to benefit . To benefit . It is a question about whether to benefit . It is a question about whether they to benefit . It is a question about whether they are to benefit . It is a question i about whether they are likely to benefit at all from this, and in which way. 0stensibly the tariff should buy them some Breathing Room and love the plainfield in the meantime to penalise the chinese Ev Makers getting subsidies and who are able to sell them for a lower cost in the eu than European Makers themselves can make. The problem is that might give them some Breathing Room to bring down their own costs and raise their own competitiveness in their own competitiveness in the eu, but the question is whether the chinese will give some kind of a Backlash Or Retaliation against the eu makers, especially in china. And that will hurtjoe automakers the most because they lean heavily on the chinese market for their Auto Industry. Chinese market for their auto indust. , ~ industry. Interesting. We soared generally industry. Interesting. We soared generally go industry. Interesting. We soared generally go it. Industry. Interesting. We i soared generally go it alone industry. Interesting. We soared generally go it alone is a bit of a Lone Wolf in terms of its opposition. We saw germany go it alone. Do you think this is an appeasement that they might not suffer the consequences you mention . Im consequences you mention . Im sure that as consequences you mention . In sure that as part of the equation. They wanted the nice guy because they dont want to anger china and face their retaliation against their own automakers there which are, by the way, suffering in china as well. Theyve invested heavily into china but they are also suffering from Chinas Slowdown and the turn away from foreign makers in china by chinese consumers. So they face a double edged sword here and it is a damned if you do, damned if you dont situation for the germans. So that is the equation that they are looking at. It isnt a good place to be. The only one of the saving graces, however, here, is the tariffs arent a done deal. There is still room for negotiation. And they are hoping, as you pointed out with the vw cdos comments, that this could ease the restrictions a bit more. Ceo. Before restrictions a bit more. Cso. Before | restrictions a bit more. Cso. Before | Let Restrictions a bit more. Ceo. Before i let you restrictions a bit more. Ceo. Before i let you go, to the protection measures, subsidies and tariffs, without slowdown the eventual Development And Rollout of Electric Vehicles generally . That is the other side of the coin because if you put on these tariffs on imports it could hurt consumers and it could hurt consumers and it could hurt consumers and it could hurt Ev Adoption in europe, which is already slowing. Europe has very strict Ev Goals in terms of reviewing reducing Carbon Output and they are already off target to reach those goals and if you make evs even more expensive it will hopefully and make it harder for people to adopt them there. Very interesting. Hans greimel, thank you forjoining me. Turning to the middle east, today marks one year since the october seven attacks on 0ctober seven attacks on israel. Since then developments in the region have caused shockwaves, including in oil markets. The escalation comes at a time of uncertainty around the upcoming us election and as china tries to stabilise its struggling economy. Colin was worn the war could push up inflation if Trade Routes are disrupted, causing the cost of Oil And Shipping to rise. A big concern is whether any escalation could block the strait of hormuz, a major transit channel. Effective lng frozen gas passes through there. The Oil Marketmaking already reacting. Brent crude jumped 5 last wednesday after president biden said the us was discussing with Israel Striking arounds oil industry. Iran is the seventh largest Oil Producer in the world. For now, Commodity Prices remain below where they were last year, but officials around the world paying close attention. The biggest economic impact is being felt within the region itself. In Israel The War has resulted in a drop in Investment And Growth while in gaza the constant bombing since hamas attacked israel on october seven and has had a 0ctober seven and has had a devastating impact on its economy. Gdp has fallen nearly 90 in the first half of this year, according to the international monetary fund. The imf has warned the war could have significant ramifications for the global economy and it plans to update its forecast for all countries later this month when the global lender and the World Bank hold their annual meetings in washington. In washington. Michelle fleury there. The middle East Conflict has put a focus on Supply Chains with concerns that an escalation could result in the blocking of the strait of hormuz, a major shipping route. In the united states, a strike by Tens Of Thousands of Port Workers came to a temporary halt last week, after 3 days. Peter tirschwell from s p told me how this has impacted shipping cost. We me how this has impacted shipping cost. Me how this has impacted shinina cost. ~. ,. , shipping cost. We have started to see impact shipping cost. We have started to see impact on shipping cost. We have started to see impact on shipping to see impact on Shipping Prices early in 2024 because this was after the Houthi Rebel started firing on shipping, last december, and byjanuary or february, all the major shipping services operating between Asia And Asia and Europe And Asia and North America were diverting around the south of africa, and then especially in the spring, as we started to see major retailers and other companies start to move goods earlier, in anticipation of possible new Donald Trump tariffs, if Donald Trump was the presidency, and also knowing that the East Coast dockworkers were going to strike, we saw a significant increase in Shipping Pricing in april or may this year. Fascinating. How much is it got up fascinating. How much is it got up by . Fascinating. How much is it got U B . Fascinating. How much is it got u. B . , fascinating. How much is it got U B . , fascinating. How much is it got up by . The rates went up from, sa , if up by . The rates went up from, say. If you up by . The rates went up from, say. If you look up by . The rates went up from, say, if you look to up by . The rates went up from, say, if you look to the say, if you look to the Bellwether Container Trade lane from asia to North America, it would have gone from 1500, say, up would have gone from 1500, say, up to 8000. Now they have come down since then because a lot of those goods that were sort of those goods that were sort of frontloaded were brought in, maybe two months earlier, to make sure all that merchandise was in the us for the holiday season. Now, a lot of those goods are now in the countries of the demand is easing, and, as a result, the prices are starting to decline. Starting to decline. Peter tirschwell starting to decline. Peter tirschwell Speaking Starting to decline. Peter tirschwell speaking with | starting to decline. Peter. Tirschwell speaking with me earlier. Here in singapore, at the weekend, it was a sad day for the citys was Racing Scene it held its final race on saturday. Horse Racing Scene. The Singapore Turf Club will close after 180 years, as its land goes back to the government to use for new housing projects. While its closure came as a shock, spectators have dwindled over the years. Only 10,000 people showed up for the final race, the grand singapore gold cup, which is about a third of the venues capacity. Hello and welcome to sportsday from the bbc sports centre, i am chetan pathak. Coming up in am chetan pathak. Coming up in a programme, what next for eric ten haq . Manchester united now when five after a goalless draw at aston villa. Red roses in bloom, unstoppable England Score nine tries, beating the world champions, new zealand, for the third time in a row. And breathe Terrell Hatton survives a late scare to secure a record third Alfred Dunhill Links Champion title at st andrews