A dearth of Chinese travelers is nothing to worry about, according to Banyan Tree Holdings founder Ho Kwon Ping. He believes they will definitely come back and views China as just a temporary setback. The hospitality industry predicted a rebound in Chinese tourism around this year or next year. The absence of mass group tours, which don’t benefit their hotels anyway, has been compensated by an increase in free individual travelers who can afford higher airfares.

Ho also has a positive outlook on the tourism market within China. The Chinese government aims for consumption-based growth and views tourism as a major driver. He believes this will have a significant trickle-on effect and contribute to the country’s overall economic growth.

Ho dismisses concerns about China’s real estate market turmoil, which represents about 30% of the country’s economy. He is confident that the Chinese banking system won’t collapse as it is mainly Chinese banks lending money. He points out that despite the recent struggles of companies like Country Garden, there is still a high demand for modern housing in China.

Ho emphasizes that his company is not heavily exposed to a Chinese real estate bubble. They had already sold their hotels in China before the bubble occurred. He believes this strategy has made them comfortable with the current state of the Chinese real estate market.

Ho believes that Singapore, where his hospitality brand is headquartered, can play a significant role in easing geopolitical tensions between China and the United States. He argues that the rise of China should be seen as the rise of an entire civilization and not as a threat to the West. He suggests that the world is moving towards a future where multiple great civilizations coexist, challenging the idea of one dominant global power.