According to official data released on Sunday, tourism revenues in China experienced a significant surge during the Lunar New Year holidays, marking a noteworthy recovery from previous years.
A report by Reuters indicated that the data showed a remarkable 47.3 per cent year-on-year increase in tourism revenues, surpassing the levels seen in 2019. This surge was attributed to a domestic travel boom driven by an extended holiday period, which saw tourist destinations across the country bustling with large crowds. Despite the positive figures, concerns persist about the sustainability of this tourism surge, particularly as tourism revenue per trip remained below pre-pandemic levels.
During the Lunar New Year holiday, often referred to as the world’s largest annual migration, domestic tourism spending experienced a significant uptick, reaching $87.96 billion, representing a 47.3 per cent increase from the same period in 2023.
The number of domestic trips taken during this period also saw a substantial increase, growing by 34.3 per cent compared to the previous year, totaling 474 million trips. In comparison to the 2019 Lunar New Year holiday, before the onset of the COVID-19 pandemic, domestic tourism spending showed a notable rise of 7.7 per cent, with domestic trips increasing by 19 per cent. It’s noteworthy that the 2024 holiday lasted for eight days, one day longer than the Lunar New Year break in 2019.
Goldman Sachs analysts observed an uptick in domestic tourism during the Lunar New Year holiday compared to previous years.
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