top of page
Writer's pictureBy The Financial District

China's Holiday Travel Returns To Pre-Pandemic Levels

Chinese tourists crowded popular sites as travel bounced back to pre-pandemic levels during a recent eight-day national holiday, providing a temporary boost to China's flagging economy, The Associated Press (AP) reported.


Tourism revenues reached about 753 billion yuan ($103 billion) during the combined Mid-Autumn Festival and National Day holiday period.



The government stated that tourism revenues reached about 753 billion yuan ($103 billion) during the combined Mid-Autumn Festival and National Day holiday period, which ended on Friday.


This represented a rise of 1.5% compared to 2019 and a 130% increase compared to last year when pandemic restrictions were still in place.



China maintained lockdowns and other restrictions much longer than most other countries, enforcing a "zero-COVID" policy until December of last year.


However, the hoped-for consumer spending boom following the lifting of restrictions has not materialized, as many Chinese remain cautious due to an unfolding real estate crisis that is weighing on the economy, and youth unemployment rates exceeding 20%.


Market & economy: Market economist in suit and tie reading reports and analysing charts in the office located in the financial district.

Nevertheless, tourists flocked to the Great Wall and the bustling pedestrian-only shopping streets in cities like Shanghai, Beijing, and others. Few people wore protective masks in the crowded night markets and other popular destinations.




Optimize asset flow management and real-time inventory visibility with RFID tracking devices and custom cloud solutions.
Sweetmat disinfection mat

Comments


bottom of page