“Many people have lost income or were without jobs during the worst times of the pandemic so people are trying to be more careful from a financial perspective,” he said.
Travel within China, and sometimes even within cities, was restricted beginning with the Lunar New Year in late January as China fought the spread of the coronavirus that emerged in the central city of Wuhan. During the five-day Labor Day holiday in May, domestic tourism revenue was down nearly 60% from the previous year.
“Chinese consumer confidence has been significantly recovered due to the proper control of pandemic, government pro-consumption policies and stimulus and faster than expected resumption of business activities,” said Jennifer Ye, PwC’s China consumer markets leader.
The Golden Week tourism and spending figures indicate domestic consumption is recovering, partly due to so-called “revenge buying” to make up for the previous months when people were unable to travel, she said.
With many Chinese tourists unable to travel abroad due to global restrictions, those who previously traveled to Hong Kong and South Korea for duty-free shopping turned to the southern Chinese island of Hainan instead, spending 530 million yuan ($78 million) at duty free shops during the first five days of the holiday, according to a report by Chinese state broadcaster CCTV.
The Chinese province raised duty-free shopping limits on July 1, hoping to attract domestic tourists and compete with shopping hubs in Europe and other parts of Asia.
China has reported no locally transmitted coronavirus infections since Aug. 16, and restrictions have been eased.
To boost domestic tourism, local governments and online travel platforms like Ctrip and Fliggy are offering discounts on attraction tickets, hotels and tour packages.
Read the full article at Dayton Daily News: https://www.daytondailynews.com/nation-world/china-golden-week-holiday-pumps-up-tourism-boon-to-economy/TWYYYQNKTNDGNGCRTCE7QM3GPA/