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Domestic tourists in China splurged a record $103 billion during the Golden Week holiday, marking the busiest holiday in five years. Chinese travelers spent heavily on hotels, stays, and dining, but the tepid rebound in outbound travel is less encouraging for other destinations counting on Chinese spenders. Spending and travel during the holiday fell short of official expectations for growth. The surge in domestic tourism spending reflects a strong recovery in the Chinese economy, but concerns remain about the impact on global markets.
On @Breakingviews: Domestic tourists splurged $103 billion over China’s Golden Week, marking the busiest holiday in five years. Chinese travelers splurged on hotels, stays and dining. @t__shum explains why it’s less encouraging for other places counting on Chinese spenders https://t.co/HDSTHduG1P
On @Breakingviews: Domestic tourists splurged $103 billion over China’s Golden Week, marking the busiest holiday in five years. Fewer consumers have ventured outbound while those who do spend less. @t__shum says this tepid rebound on that front is helpful https://t.co/K6nAslQZI0
China was hoping for a Golden Week consumption boom. It didn’t happen https://t.co/P97INSlYtR via @CNNBusiness
Chinese Gold Versus World Market Surges Again After Holiday Week https://t.co/bbpmtg6WCm https://t.co/CpSGcLSJ33
Spending and travel over China’s Golden Week holiday undershot official expectations for growth https://t.co/jGcKKxCiEq
Spending and travel over China’s Golden Week holiday undershot official expectations for growth https://t.co/ycBVRhzFJX