According to Xinhua News Agency, from January 26 to February 9 (New Year's Eve), Chinese tourists made 195.24 million trips by various means of transport, up 26.7% over the same period in 2023. This opens up hope for increased consumer spending in the coming time.
Road transport attracted 184.62 million passengers, up 24.2% year-on-year. China's railway network alone welcomed 230 million passengers from January 26 to February 14, the first half of the 40-day Lunar New Year travel peak.
China Railways handled 14.25 million passengers on February 14, setting a daily record for the Lunar New Year travel rush, according to the state-run Xinhua News Agency. This year’s spring travel rush began on January 26 and will end on March 5.
China’s Lunar New Year, also known as the Spring Festival, is seen as an indicator of the health of the Chinese economy , as increased spending can provide insight into consumer confidence. China’s economy continues to struggle with weak domestic demand as the hoped-for recovery from the Covid-19 pandemic has yet to materialize.
Chinese authorities estimate that tourists will make 9 billion trips during the 40-day travel period related to the holiday, which officially runs from February 10 to February 17. However, from late January to early March, many Chinese travel or see family, so consumer spending increases during this period.
HUY QUOC
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