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Chinese New Year Demand Exceeds 2019 Levels

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Chinese Travel demand during the Lunar New Year holiday exceeded pre-pandemic levels, adding to signs that consumption in China is improving, according to Bloomberg.

  • Around 474m tourist trips were made around the country during the festival between Feb. 10-Feb. 17, up 19% on 2019 levels.
  • Travel numbers are also up significantly on 2023 levels, with trips rising by 36% on the year.
  • Railway travel was 36% higher than in 2019 at 99.5m trips.
  • In terms of aviation, around 18m passenger trips were made by air, with the average number of daily trips hitting 2.25m.
  • “These are strong numbers,” Hui Shan, chief China economist at Goldman Sachs said. Robust New Year tourism data are an “encouraging” sign that real household consumption growth can reach 6% this year, she added.


Source: Bloomberg

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