The Market Online - At The Bell

Join our daily newsletter At The Bell to receive exclusive market insights

  • Australian Prime Minister Scott Morrison has said that the government is considering a travel bubble with several “low-risk” Asian countries
  • This could apply to countries with low COVID-19 numbers, such as Taiwan, Japan, Singapore, South Korea, and some Chinese provinces
  • It’s hoped that a cautious re-opening to some Asian neighbours will reinvigorate Australia’s economy through increased tourism
  • However, negotiations are still in the early stages, with any major changes likely to be months away
  • While no decisions are currently imminent, the Prime Minister will discuss this issue further with state leaders on Friday

Australian Prime Minister Scott Morrison has said that the government is considering a travel bubble with several “low-risk” Asian countries.

This would apply first to countries with low COVID-19 numbers, such as Taiwan, Japan, Singapore, South Korea, and some Chinese provinces.

Talks about potentially relaxing travel rules, including entry and quarantine, are ongoing between Australia and numerous Asian nations. Officials and leaders from within Australia’s government have reportedly held discussions about this with their counterparts in Japan and South Korea. 

It’s hoped that a gradual re-opening to some Asian neighbours will reinvigorate Australia’s economy by boosting its struggling tourism industry. 

Prime Minister Scott Morrison told reporters in Canberra that the government will proceed with caution, in light of how some other continents are faring through the pandemic.

“The situation in Europe and the United States is awful. And obviously, that presents greater risk for people coming in from those parts of the world to Australia,” he said.

“But out of many parts of Asia, particularly in North Asia, places like Taiwan and I would also say provinces of China, Singapore… [we are] looking at what alternative arrangements could be had to channel visitors through appropriate quarantine arrangements for low-risk countries,” he added.

Despite the Prime Minister’s comments, negotiations are still in early exploratory stages, with any major developments likely to be months away. This is due to serious concerns about a potential second wave of COVID-19 cases, which could occur if Australia reopens to other countries too quickly.

While no decisions are currently imminent, the Prime Minister will discuss this issue further with state leaders at national cabinet on Friday.

More From The Market Online
AI concept

The great AI scare sell-off is still permeating Wall Street; a speculative blog from the not-so-distant future stands as the latest culprit

The ongoing tech sell-off in the United States, ironically driven by the larger AI thematic itself, continues to define
US and Aus flag

The XJO benefitted from geopolitical calm last week. New tariff fears perhaps feel more familiar

Last week, I wrote that the ASX200 was having a good week, where Australian investors were reacting to Australian earnings reports and how

Okay, so just where is gold heading? Experts say its nowhere near finishline yet

Leading industry, government and investment groups are still confident that the gold’s bull run is nowhere…
Koala share trading AI

The ASX 200 is up over 4% YTD. What EOY targets are floating around?

It’s been a pretty good year for the ASX200 so far, helped greatly by the ‘commodity supercycle’ narrative – which isn’t really a