Golden Week in China Surpasses Records Amid Economic Challenges: Thriving Tourism and New Consumer Trends

The Golden Week in China: Breaking Records Amid Economic Turmoil

China's 'Super Golden Week', an eight-day holiday that coincides with the Mid-Autumn Festival, has become the most popular vacation period of 2023. The surge in travel activities and revenue is unprecedented this year, with records being broken by both domestic travelers and tourists venturing beyond national borders.

The Chinese Ministry of Culture and Tourism forecasted that during this 'Super Golden Week', domestic tourism trips will reach a staggering total of 896 million, marking an impressive increase of 86 compared to the previous year. Domestic tourism revenues are projected at 107.7 billion yuan approximately $14.6 billion, reflecting a growth rate of 138 YoY.

Spectacular destinations such as Shangh, Suzhou, and Chengdu have witnessed a marked increase in hotel reservations and flight bookings, with figures soaring by five times compared to the usual holiday periods.

According to reports from the Ministry of Transport of China, cross-regional population movements throughout the country reached over 2 billion individuals on average dly, demonstrating robust travel demand that hasn't been significantly impacted by current economic challenges. Total trips and total tourism sping are expected to exceed pre-pandemic levels, a testament to pent-up consumer demand and resilience.

Domestic Tourism Dominates

Tongcheng Travel's 'Mid-Autumn Festival and National Day Travel Hot List' report highlights the surging interest in long-distance domestic travel destinations such as Xinjiang, Sichuan, Inner Mongolia, and Gansu. These regions have witnessed YoY increases of over 500 in popularity, indicating a surge in interest from tourists seeking to explore beyond their immediate surroundings.

Outbound Tourism Trs

Trip.com reveals that Thland is poised to become the most popular destination for Chinese outbound travelers, partly due to its visa-free policy and other travel incentives. This will be followed closely by South Korea, Malaysia, Singapore, Australia, and the UK as preferred options for international leisure trips.

Emerging Travel Preferences Among Younger Generations

Jacob Cooke, co-founder and CEO of WPIC Marketing and Technologies, notes a notable tr towards self-organized travel among younger Chinese tourists. This shift away from traditional group tours highlights an increasing demand for authentic experiences that can be easily planned using apps like Fliggy, Ctrip, and Xiaohongshu.

Spiritual Retreats at Temples

Temple visits have become a popular destination among young consumers looking to seek spiritual rejuvenation amidst the stresses of modern life. These sacred sites are seen as ideal locations for emotional healing by many younger Chinese, with offerings including themed coffees, surprise gift boxes, blessing cards, and bracelets designed specifically to attract tourists.

Offshore Duty-Free Sales Surge

Hkou Customs reported a 40.3 increase in supervised offshore duty-free sales compared to the same period last year, reaching an impressive figure of 66.4 million yuan approximately $9.5 million. The number of duty-free shoppers surged to 61,600 individuals, marking an exponential rise of 84.1.

Stimulating Internal Consumption

In light of global economic challenges and China's concerns over youth unemployment alongside declining birth rates, the country is innovating to stimulate domestic consumption through initiatives like the 'Super Golden Week'. Offline retl experiences, e-commerce platforms, coffee chns, and supermarkets are leveraging attractive discounts and coupons to boost sping.

Concluding Remarks

As China celebrates the 'Super Golden Week', it not only breaks travel records but also showcases resilience in consumer sping despite economic headwinds. This holiday period highlights emerging trs such as self-organized tours, spiritual tourism, and a surge in duty-free sales, all while reinforcing the country's efforts to stimulate internal consumption.

References:

1 China's 'Super Golden Week' Breaks Records Despite Economic Turmoil. Jing Dly. Date of Access.

2 Ministry of Culture and Tourism Forecast. Date of Access.

3 Hkou Customs Report. Date of Access.
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