Labour Day holiday shows a recovery of tourism and the economy

(SOURCE: People’s Daily Online, 6th May 2020)

Tourism and the economy recovered and increased sharply during the Labour Day Holiday in China, with consumption increasing sharply.

When compared to the last Chinese holiday in April (also a 3-day short holiday), it was shown that people were willing to go out and take family trips.

Holiday domestic tourism income resulted in 47.56 billion yuan showing signs of stability and recovery. For example, the average occupancy rate of 17, five-star standard hotels was close to 99% in Qiandao Lake. Staff of various travel agencies in Qiandao Lake, employers of boat companies, major hotels, country houses, and rural attractions were seen to be busy. Also, more citizens chose to be close to nature, with participation in vineyard tours or going on a small holiday with their family in the countryside.

When it came to daily consumption (when comparing this holiday to the one before), the main difference observed was the combination of online shopping and offline retailing promotions. According to Shanghai Municipal Commission of Commerce, real-time data provided by China UnionPay, UnionPay and Tenpay showed that in the 24 hours since the May 5th Shopping Festival started at 8 o’clock on May 4, the amount of consumer payments in Shanghai reached 15.68 billion yuan.

Behind this consumption feast, the advantages of the new online economy have also begun to “show up.”

During the shopping festival, Taobao opened 10,000 live broadcasts for Shanghai products.

STAG