China’s Economy Grows by 5% in 2024
The Chinese mainland’s gross domestic product (GDP) grew by 5 percent year-on-year in 2024, meeting the annual target, according to official data released on Friday. The economy expanded by 5.4 percent in the fourth quarter compared to the same period last year, marking the largest growth since the second quarter of 2023.
Thailand Legalizes Casinos to Boost Tourism
Thailand’s cabinet has approved a draft law legalizing gambling and casinos, aiming to enhance tourism, create jobs, and attract investment. Prime Minister Paetongtarn Shinawatra announced on Monday, “Legalization will protect the public and generate more state revenue.” With tourism being a key driver of Southeast Asia’s second-largest economy, Thailand anticipates record visitor numbers in the coming years.
Japan Welcomes Record Number of Foreign Tourists
Japan saw nearly 37 million foreign visitors in 2024, setting a new record, according to data from the Japan National Tourism Organization on Wednesday. The surge is attributed to a weaker yen and increased inbound flights from various countries. The 2024 figures represent a 47.1 percent year-on-year increase and a 15.6 percent rise compared to 2019, before the COVID-19 pandemic limited global travel. December alone saw nearly 3.5 million foreign visitors, breaking the single-month record set two months earlier.
India’s Maha Kumbh Festival Draws Millions
Approximately 15 million Hindus took a dip in freezing waters on Monday, seeking absolution of their sins on the first day of India’s Maha Kumbh festival. Held every 12 years in Prayagraj city, Uttar Pradesh, the Maha Kumbh Mela is expected to attract more than 400 million visitors over 44 days. Officials initially anticipated 2.5 million visitors for the first ritual dip. Enhanced security measures include 40,000 police officers and AI-equipped surveillance cameras to manage the massive crowds.
Pakistan Cuts Tariffs for Electric Vehicle Charging Stations
Pakistan plans to cut power tariffs for electric vehicle (EV) charging station operators by 45 percent as part of energy sector reforms aimed at boosting demand. Energy Minister Awais Leghari announced on Wednesday, “The success of the new policy depends on how the international community lives up to its commitment to catalyzing adoption through green financing for such initiatives.” The government also intends to introduce financing schemes for e-bikes and the conversion of two- and three-wheeled petrol vehicles.
Reference(s):
Asia News Wrap: China's economy grows by 5 percent in 2024, and more
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