Hundreds of thousands of visitors have flocked to the Chinese-controlled regions of Macau and Hong Kong since September 29th, according to data. This surge in tourism comes as China wraps up its Golden Week holiday, although the figures only amounted to about 85% of pre-pandemic levels. Tourism revenue from China's Golden Week holiday also surged year-on-year but only slightly exceeded its pre-Covid level. The holiday travel has provided a temporary boost to China's flagging economy. However, spending and travel during Golden Week fell short of official expectations for growth. Domestic tourism in China has finally returned to pre-pandemic levels, with tourists spending $103 billion during Golden Week, marking the busiest holiday in five years. Despite this, China's consumer spending is still not back to pre-pandemic levels.
Most Japanese firms expect China's economic slowdown to persist into 2025 - Reuters poll https://t.co/zUHpl5FtTW via @YahooFinance
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's consumer spending isn't roaring back to pre-pandemic levels yet https://t.co/pIooYAKpoP
China's consumer spending isn't roaring back to pre-pandemic levels yet https://t.co/pND4Rvkpt2
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
China's domestic tourism is finally back to pre-pandemic levels https://t.co/bcFsdXBXaW
1/2 According to China Daily, "Bank of China predicted that the Chinese economy will grow about 5.7 percent year-on-year in the fourth quarter to achieve yearly growth of around 5.2 percent this year, above the official annual growth target of 5 percent." https://t.co/W162H3cEr3
Spending and travel over China’s Golden Week holiday undershot official expectations for growth https://t.co/ilm1DvIOZu
THREAD: Golden Week spending inches above pre-pandemic levels. Two US banks upgrade their China growth forecasts for the year to 5% but the Atlantic Council and Rhodium Group predict it will fall below 4%. https://t.co/Yp3l2dqH3J
Tourism revenue from China’s “Golden Week” holiday surged year-on-year but edged only slightly above its pre-Covid level, suggesting relatively muted consumer sentiment continues to weigh on the country’s economic growth. https://t.co/pAPk5zsbV4
China's cross-border trips during Golden Week holiday recover to 85% of pre-pandemic level https://t.co/ANDxwD1ug1
China’s Golden Week Tourism Nudges Past Pre-Pandemic Level https://t.co/sspXnow0h6
China’s ‘golden week’ holiday sees consumption boom as pent-up demand takes wing https://t.co/6f84GGXurv
China’s ‘golden week’ holiday sees consumption boom as pent-up demand takes wing https://t.co/j352Igyaoo via @scmpnews
China’s 8-day holiday sees domestic tourism revenue surpass 2019 levels https://t.co/yfMWyLoAFL
China's flagging economy gets a temporary boost as holiday travel returns to pre-pandemic levels https://t.co/JK6n6GHleS
China's flagging economy gets a temporary boost as holiday travel returns to pre-pandemic levels https://t.co/iy6VPFnAlo
China's cross-border trips beat pre-pandemic level during Golden Week holiday https://t.co/J4CdnZMW9V https://t.co/pmaLtbrx3c
Tourism revenue from China’s “Golden Week” holiday surged year-on-year but edged only slightly above its pre-Covid level https://t.co/uijsUL2un4
Tourism revenue from China’s “Golden Week” holiday surged year-on-year but edged only slightly above its pre-Covid level https://t.co/lA8H2cptoA
Hundreds of thousands of visitors have flocked to the Chinese-controlled regions of Macau and Hong Kong since Sept. 29, data shows as China wraps up its Golden Week holiday, although the figures amounted to just about 85% of pre-pandemic levels https://t.co/VjxVgfL5AB https://t.co/IH77R1xX0w
🇨🇳 JP MORGAN RAISES CHINA'S FULL-YEAR 2023 GROWTH FORECAST TO 5.0% FROM 4.8%