Daily Management Review

Chinese spending on travel in the Golden Week grows weaker than expected


According to data from the Chinese Ministry of Culture and Tourism, domestic tourism spending by Chinese citizens over the Golden Week holidays in 2023 increased but showed results worse than expected.

Chris Feser
Chris Feser
The holiday week's tourism revenue came to 753.4 billion yuan ($103.28 billion), more than twice the amount predicted for 2022 and 1.5 percent more than the pre-pandemic level in 2019. The official prediction, meanwhile, forecasted income of 782.5 billion yuan.

The overall number of domestic travels during the time was 826 million, which was less than the government's expectation of 896 million trips but was nevertheless an increase of 71.3% from a year earlier and 4.1% higher than the 2019 average.

The average number of trips per day nearly doubled year over year to 1.477 million, compared to the anticipated 1.58 million journeys per day.

According to a research report from Goldman Sachs, travel growth during Golden Week was less rapid than it was in May, which was Labor Day, and June, which was the Dragon Boat Festival. This suggests that the service sector's recovery is stalling.

source: bloomberg.com