Wednesday, May 24, 2023

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.

The Fitch Ratings agency said the number of domestic tourism trips taken by Chinese consumers reached 119% of 2019 levels during the recent May Day holiday, aided by strong pent-up demand and the slower return of international flight capacity. Fitch said the domestic recovery trajectory was encouraging for the tourism industry but domestic tourism also benefits […]