China Sees Record Tourism, Spending During Spring Festival
China Sees Record Tourism, Spending During Spring Festival

China Sees Record Tourism, Spending During Spring Festival

News summary

During the recent Spring Festival holiday from January 28 to February 4, China's tourism and consumer spending surged, with domestic trips reaching 501 million and total spending hitting 677 billion yuan ($93 billion), marking increases of 5.9% and 7% year-on-year, respectively. The popularity of cultural tourism soared, particularly at sites recognized for their intangible cultural heritage, which saw a doubling in search volume and significant increases in bookings. Data indicated strong performance in various sectors, with household appliances and fitness services experiencing remarkable revenue growth. The high volume of travel reflected a recovering consumer confidence, aided by government measures to stimulate domestic demand amid pressures from U.S. tariffs. With 2.31 billion cross-regional passenger trips recorded, the holiday showcased a vibrant leisure and entertainment market, further enhancing the outlook for China's economy. Analysts noted that this rebound in spending and travel could provide crucial support for policymakers aiming to revive consumption in the world's second-largest economy.

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