China Allows Group Tours to U.S., U.K. in Test for Travel Demand

(Bloomberg) — China lifted a ban on group tours to a slew of countries including the U.S., U.K., Australia, South Korea and Japan, in a major test of demand for overseas travel from what was once the world’s biggest source of tourists.

Group tours will start immediately on Thursday and the easing applies to all travel agencies and online platforms across the country, the Ministry of Culture and Tourism said in a statement. The move sparked a rush to buy Japanese and Korean tourism stocks, with package tour operator Lotte Tour Development Co. jumping 29% in Seoul and Japan Airport Terminal Co. up as much as 12%.