Chinese consumers have demonstrated their immense spending power this Spring Festival, leveraging the country's strategic support packages aimed at boosting tourism, ensuring efficient holiday deliveries, and promoting cultural fairs. These initiatives have significantly fueled holiday spending, setting the stage for a vibrant start to the Year of the Dragon.
Experts predict that this eight-day holiday will mark an \"unprecedented\" peak season for consumption. The energetic kickoff to the Year of the Dragon is expected to drive economic growth throughout the new year, even in the face of emerging challenges.
Traveling: Bouncing Back to 2019 Levels
Official data reveals that over 3.5 billion passenger trips have been recorded during the first 17 days of this year's Spring Festival travel rush, which commenced on January 26. This number is projected to soar to 9 billion, likely setting a new high for travel during the holiday period.
Traditionally, many Chinese families would stay home to celebrate the Spring Festival together. However, there's a noticeable shift towards travel this year, with families drawn to cultural activities such as lantern shows, flower markets, and temple fairs across the country, as well as overseas destinations.
Fliggy, a leading online travel platform, reports a significant increase in domestic travel reservations during the Spring Festival, surpassing the figures from 2019. Additionally, outbound travel bookings have surged more than 15-fold compared to the same period last year, nearing the levels seen in 2019.
Data from Ctrip Travel highlights that numerous scenic spots nationwide welcomed large influxes of tourists on the first day of the Spring Festival. For example, ticket orders for attractions in Hebei, Henan, Shandong, and Shanxi provinces have risen over 15-fold year-on-year. Particularly notable is Luoyang, an ancient city in central China's Henan Province, where ticket bookings have increased by 35-fold compared to last year.
Reference(s):
Chinese consumers show strong spending power during Spring Festival
cgtn.com
