Monday, October 7, 2024 As China celebrated Golden Week 2024, a national holiday marking the founding of the People’s Republic, encouraging signs of recovery emerged within the travel and tourism sectors. Official forecasts showed that cross-border travel saw a remarkable upswing, with average daily volumes increasing by 19% compared to the previous year, even surpassing pre-pandemic levels. The data suggest that wealthier Chinese travelers were particularly eager to take advantage of the holiday, with outbound travel rising 40% year-on-year on October 1st alone.
Long-haul flights surged past pre-pandemic levels, and online travel agency Trip.com recorded a 30% spike in European bookings. These trends indicate a growing confidence among Chinese consumers, especially within the middle class, as they shift from spending on material goods to investing in experiential travel.
Meanwhile, Macau, a key gaming destination for mainland Chinese tourists, reported a 5% increase in visitor numbers during the first three days of Golden Week compared to 2019, according to CLSA. The premium mass gambling segment hit record highs, demonstrating that the appetite for high-end entertainment remains robust despite a slight dip in individual spending. China’s Tourism Sector Expands Its Horizons with a Focus on Cultural Heritage and Serene Local Retreats Air China Launches New Daily Services from Shanghai to Hanoi, Enhancing Regional Connectivity Tourism booming in China for the National Day .
