Beijing, (TDI): As China gears up for its week-long National Day holiday starting Tuesday, the country’s consumption market is showing multiple positive indicators.
Industry insiders are predicting bustling activity across various sectors, including tourism, transportation, entertainment, and catering, as the Golden Week holidays approach.
Typically serving as a barometer for economic health, this year’s spending spree during Golden Week is expected to signal renewed confidence in the potential of China’s domestic consumption market, a vital economic driver.
Analysts believe the anticipated consumption surge, alongside a series of recently announced pro-growth policies, will inject fresh momentum into the recovery of the world’s second-largest economy in the final quarter of 2024.
Chinese tourists nationwide are in “countdown mode,” eagerly preparing for their holiday getaways.
A Beijing-based tour guide, Zhao, said that hotel and ticket bookings for popular destinations have surged significantly, according to Global Times.
“Tickets for iconic tourist sites in Beijing, such as the Forbidden City, were sold out a week ago,” Zhao said.
In addition to traditional hotspots like Beijing and Shanghai, third- and fourth-tier cities are gaining popularity due to their unique cultural and culinary attractions.
For instance, the hit game “Black Myth: Wukong” has spurred a 30 percent rise in tourism bookings for cities in Shanxi Province, known for its rich cultural heritage, according to local media reports.
Outbound Tourism
Outbound tourism is also expected to continue rebounding during the holiday period.
Travel platform Fliggy revealed that many travel packages for destinations in Europe and Africa sold out over a month ago.
Flight bookings to countries such as Egypt, Turkey, Hungary, and Kenya have increased more than threefold compared to the same period in 2023.
China’s transportation network, including expressways, railways, and civil aviation, is expected to witness a significant surge during the Golden Week.
The nation’s railway system is forecasted to handle around 175 million passenger trips during the holiday travel period, which started on Sunday and will continue until October 8.
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The Beijing Capital International Airport is projected to manage 1.32 million passenger trips during the holidays, while its annual passenger throughput could exceed 50 million.
At Beijing Daxing International Airport, inbound and outbound passenger numbers are expected to reach 105,000, marking a nearly 60 percent increase over the same period in 2023, according to airport operators.
Overall, China’s transport sector is expected to handle 1.94 billion passenger trips nationwide during the holidays, with a daily average of 277 million trips—a 0.7 percent increase year-on-year.
Further supporting this travel boom is a decrease in prices.
