Hong Kong, Singapore travel bubble to open within weeks
Quarantine-free travel will be permitted between between Hong Kong and Singapore within weeks, providing a major boost to both economies.
Singapore’s Transport Minister, One Ye Kung, today said the two country’s are aiming to launch the travel bubble on 26 May.
“The ATB (Air Travel Bubble) is the key to quarantine-free travel, as long as both regions keep community infections very low. So we must continue to keep our guard up, implement the necessary public health measures, observe the social distancing rules, stay vigilant, and get ourselves vaccinated when it is our turn,” said the Transport Minister.
“We are planning to start cautiously with just 200 travellers each day. Notwithstanding, when successfully launched, this will be a unique ATB between two aviation and financial hubs in Asia.”
The Singapore Government will require travellers from Hong Kong to have had a second COIVD-19 vaccine shot, however those travelling to Hong Kong from Singapore will not necessarily need to have had a shot.
People using the bubble must have been located in either Singapore or Hong Kong for 14 days prior to travelling.
If the seven-day moving average of unlinked cases in Singapore or Hong Kong grows to more than five, the bubble will be suspended for a minimum of 14 days.
The two nations attempted to launch a travel bubble last November, however the plans were delayed after COVID-19 case numbers rose in Hong Kong.
The Singapore Government is also considering a similar arrangement with Australia. Earlier this month Australia launched a travel bubble with New Zealand.
Travel bubble could boost local equities, REITs
DBS Bank recently named 6 Singapore REITs that it believes will benefit from a resumption in travel and post-COVID-19 “normalisation”.
The reopening of travel is also a central element in PIMCO’s bullish outlook for Asian casino stocks and global equities within the broader entertainment, leisure and travel sectors.