China’s tourism industry had a fruitful holiday weekend with 395 million domestic tourist trips, according to a CCTV report citing government data.
In the three days leading up to the mid-autumn festival and National Day celebrations, tourism revenue was 342.24 billion yuan ($46.9 billion), marking a year-on-year increase of 125%. The number of trips also jumped by 76%, showing a strong bounceback for demand following last year’s Covid lockdown disruptions.
Read more: China’s Precarious Economic Recovery Signals More Support Needed
Economic indicators out of China have pointed to a fragile and uncertain recovery, with more policy support likely needed to revive business confidence and spending. While the property crisis still weighs on the country’s prospects, the tourism data adds to increases in auto deliveries by local manufacturers in suggesting consumer appetites may be returning.
CCTV also reported that sales at China’s major retailers and restaurants rose 8.3% in the first three days of the holiday versus a comparable period in 2022. Hotel and tourism orders at key online platforms rose more than 20%, the national TV network added.
