Will tourism slump force Trump to rethink his unilateral approach?

As Hong Kong braces itself for the Lunar New Year tourist surge, and perhaps long-awaited evidence of a return to the tourism heydays of 2017 and 2018, spare a thought for the US and mounting evidence of a “Trump slump” in US tourism this year. While UN Tourism data shows that international tourism was up by 4 per cent globally in 2025 – back to levels not seen since the Covid-19 crash in international travel – the US stood alone worldwide, with at least a 4 per cent fall. US President Donald...