China Golden Week spending per trip hits four-year low amid overseas travel jump
Average spending per domestic trip during the seven-day holiday fell 1.9 per cent to 893.92 yuan (US$133.51), the lowest since 2022.
Chinese travelers' average spending per trip during the seven-day Golden Week holiday fell to a four-year low of 893.92 yuan (US$133.51), despite a jump in overseas travel. This trend, coupled with declining movie ticket sales, has raised concerns for the government, which has been trying to stimulate domestic spending to boost the economy.
The National Day holiday, one of China's longest public breaks, saw travelers combining it with the Mid-Autumn Festival holiday, leading to longer, more distant trips. While domestic travelers showed reluctance, overseas travel was more popular, with a 123% increase in hotel bookings for stays of seven nights or more. Despite this, cinema box office revenue during the holiday period fell 36.6% year-on-year, the lowest since 2014, indicating weak consumer confidence.
Some experts believe the key constraint is uncertainty over income and employment prospects, rather than a lack of desire to consume.
Written by urgent.news from Channel News Asia's reporting — not their text. Machine-written — may contain errors; check the original before relying on it.
