Oct 2, 2023
Golden Week: Budget travel takes off in China
It is seeing record travel for the annual Golden Week holiday despite slow growth, high youth unemployment and a property market in crisis. Eager to kick off more "Revenge travel" after prolonged Covid-19 lockdowns, they took to social media in the weeks leading up to Golden Week to swap advice on how to make the most of the holiday even as they tighten their purse strings. Domestic travel bookings - for air and train tickets, hotel reservations and tour packages - for Golden Week surged by 88% compared to the previous week, said online travel agency Trip.com. He said the spends had been lower than forecast during the last Golden Week break in May when domestic travel had rebounded to pre-pandemic levels. While domestic travel is certainly a boost for the sluggish economy, he said it's not yet clear whether this is still the result of "Pent-up demand because of travel restrictions" that had been in place for three years, or if the "Demand will be long-lasting".
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