Chinese Domestic Tourism Surges During May Day Holiday
Chinese domestic tourism rebounds strongly, reaching 119% of pre-pandemic levels during the May Day holiday, while international travel remains slow.
Fitch Ratings highlights the encouraging recovery trajectory of the domestic tourism industry, driven by pent-up demand and limited outbound flight options.
Despite the increase in domestic trips, spending remains nearly flat due to factors such as low-income travelers, visits to lower-tier cities, and short-distance trips.