Chinese tourist spending during one of the country’s most important national holidays has exceeded pre-pandemic levels for the first time, authorities said, in a sign of economic momentum after China ended its coronavirus containment policies. Travel during this week’s labour day holiday was closely watched as an indicator of the Chinese economy’s recovery and as a barometer for consumer spending, which policymakers hope will help boost growth amid a bleak outlook for exports and after a disappointing year of pandemic restrictions damping activity at home.
China recorded 274mn domestic trips over the five days to Wednesday, according to the Ministry of Culture and Tourism, 71 per cent higher year on year and 19 per cent higher than in 2019.
Total tourism revenues were Rmb148bn ($21.5bn), up sharply year on year and 1 per cent higher than the comparable 2019 level, marking the first time that holiday tourism revenues exceeded those before the pandemic.