China’s Golden Week Tourism Nudges Past Pre-Pandemic Level

(Bloomberg) — 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.

Domestic tourism revenue reached 753.4 billion yuan ($103 billion) for the eight-day holiday period, an increase of 1.5% from the comparable level in 2019, the country’s tourism ministry said in a statement on Friday. The number of people traveling rose 4.1% compared with 2019.