Caixin Weekly | The Unconventional Recovery of Tourism (AI Translation)
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- The 'Golden Week' holiday in China saw a recovery in domestic tourism, with the number of travelers and revenue surpassing pre-pandemic levels.
- However, the growth in tourist numbers during the 'Golden Week' holiday was only 4.1% higher than in 2019, and lower than the 19.09% increase seen during the 'May Day' holiday.
- The recovery of the tourism industry is uneven, with concerns about consumer downgrading and limited demand for outbound travel due to visa restrictions and high flight costs.
文｜财新周刊 孙嫣然
By Sun Yanran, Caixin Weekly
“十一”长假过后，2023年的小长假即告全部结束。在这历时八天的“黄金周”，国内旅游出游人数、收入均超过疫情前，创造了今年继“五一”、暑期后的又一个消费小高峰。
Following the "National Day" holiday, all mini-holidays for 2023 have come to an end. During this eight-day "Golden Week," domestic tourism numbers and revenue both exceeded pre-pandemic levels, creating another consumer peak this year following the "May Day" holiday and summer vacation.
不过，“十一”长假的人流只比2019年高出4.1%，也低于“五一”假期19.09%的同期增幅。而值得注意的是，今年的旅游收入增幅始终不及出行人次增幅，且假期消费热度前高后低——机票、酒店都出现了节前涨价、节中跳水的状况——冷却的速度超出市场预期。
However, the number of travelers during the "National Day" holiday was only 4.1% higher than in 2019, which is lower than the 19.09% increase during the "Labor Day" holiday. Notably, this year's growth in tourism revenue has consistently lagged behind the increase in travel volume, and consumer enthusiasm during the holiday period has shown a trend of starting high and ending low - both airfares and hotel prices experienced a pre-holiday surge followed by a mid-holiday drop - cooling off at a rate faster than market expectations.
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