China’s Golden Week tourism saw a 1.8% increase in domestic trips and 7.6% revenue growth from last year. However, prices dropped, with average spending per trip down by 3% compared to pre-pandemic levels.
Competition in China’s tourism industry intensified during Golden Week, with hostels and hotels slashing prices to attract visitors. Chengdu and Nanjing were top destinations, but prices dropped over 20% in both cities.
China’s Golden Week saw a surge in domestic tourism revenue, up by 15.4% from 2024. However, when including last year’s Mid-Autumn Festival revenue, growth slowed to 7.6%. Inflation remains low, with prices falling in key sectors compared to last year.
Travelers in China took advantage of cheaper prices by booking trips before or after Golden Week. Road trips were popular, with an average of 304 million trips per day. Inflation remains low, with consumer prices down 0.4% in August from a year earlier. 1. The US economy added 943,000 jobs in July, surpassing expectations. Unemployment rate dropped to 5.4%, lowest since the start of the pandemic. Industries such as leisure, hospitality, and professional services saw the most growth.
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