SINGAPORE (Oct 8): In trying to illustrate the growth potential of tourism from China, DBS Group Holdings’ chief investment officer Hou Wey Fook brings up a fun fact: Only about nine out of every 100 Chinese currently own a passport. “Can you imagine, with an increase [in passport penetration] of just 1%, how many new tourists there will be? And the middle class is growing,” he remarks at a recent media briefing. 

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