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China New Year Holiday Points to Stronger Travel

OIL PRODUCTS

China’s Lunar New Year holiday points towards an uptick in consumer travel and spending.

  • More than 61 million rail trips were made in the first six days of the national new year holiday, according to official reports.
  • It was the highest number in five years according to Bloomberg, and it marked a 61% increase over the same vacation period in 2023.
  • Some initial data on road and air trips during the holiday also showed improvement over last year, Chinese state media reported.
  • Shanghai reported around 8.8 million tourists, up more than 50% year-on-year.


Source: Bloomberg

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