China anticipates nearly two billion domestic trips during the Golden Week holiday starting today, marking an increase of over 19% compared to previous years.
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China anticipates nearly two billion domestic trips during the Golden Week holiday starting today, marking an increase of over 19% compared to previous years. This surge reflects a recovering tourism sector and increased consumer confidence, as more people engage in travel and leisure activities during this peak holiday period.
As China’s economy shows signs of recovery post-COVID-19, the question arises: Are Chinese consumers ready to boost their spending? Recent indicators suggest a cautious optimism among consumers who are gradually regaining confidence. Government policies aimed at stimulating domestic demand, including tax breaks and increased disposable income, have started to take effect, driving a steady improvement in consumer sentiment.
Moreover, younger Chinese consumers, particularly millennials and Gen Z, are…