The most exciting news this week was the establishment of a travel bubble between Singapore and Hong Kong.
Beginning 22 November, this scheme will commence with one flight a day into each city with a quota of 200 passengers, gradually increasing to two flights per day from 7 December.
For Singaporeans who have been starved of their usual holidays because of the COVID-19 pandemic, this news must come as sweet music to their ears.
Unsurprisingly, this announcement also caused a surge in ticket prices for tickets to Hong Kong, with an economy-class ticket price shooting up from S$618 in the morning to S$810 by the afternoon.
From an investment perspective, we feel that this news comes as a breath of fresh air for the aviation industry, which has been badly battered by border closures and lockdowns since early this year.
With the establishment of this travel bubble, believed to be the world’s first, Singapore could see more of such arrangements being made with countries in the region.
Recent news suggests that Taiwan may be a possible second destination for a travel bubble as officials are actively in discussions.
Of course, the caveat here is that infection rates need to be kept under control and travellers need to do extensive testing for the virus pre and post-flight.
Hotels, tour companies and airlines are already gearing up for more good news as word of this travel bubble floats around the world.
After a tough year for tourism, there’s a chance that they can end the year on a happy note.
Today is Deepavali, also known as the Festival of Lights.
Here’s wishing all our readers a very Happy Deepavali!
May the lights from this festival guide us out of the dark times that the world faces right now.
Here’s a list of our top articles this week.
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As an investor, you might wonder what the future holds for the REITs in your portfolio. Or how to select REITs that can make you money as Singapore’s economy struggles to recover from the pandemic.
Download your FREE special REITs report: “How You Can Make Money Investing In REITs As Singapore Recovers” HERE!
Please refer to the individual articles for stock ownership disclosures.