Details
🎒 Lots of travel, little profit: During the eight-day Golden Week, Chinese travelers made 888 million domestic trips and spent 809 billion yuan (113 billion USD). That’s a 1.8% increase in trips and a 7.6% rise in spending year over year — but growth has clearly slowed.
💰 Frugal tourists: Average spending per trip was 911 yuan (about 125 USD), the lowest in three years and roughly 3% below 2019 levels.
🏨 Cheap beds: The price war in the hotel sector intensified. In Chengdu, many hotels cut prices by up to 60%. Average prices per bed were about 166 CNY (23 USD) in Shanghai and 81 CNY (11 USD) in Chengdu.
🎬 Box office bust: Movie ticket sales fell short of expectations, totaling 1.83 billion CNY (about 255 million USD) — the second weakest Golden Week result since 2017, despite more screenings and lower prices.
Big Picture
China’s travel enthusiasm remains strong, but spending power lags behind. Fierce price competition in hotels, leisure, and dining fills rooms but empties wallets. The weak per-trip spending shows how deflation and uncertainty continue to weigh on consumer sentiment. For a lasting recovery, China needs higher incomes, less price dumping, and renewed confidence in the economic outlook.
The China Survival Guide for Western Businesses
Entity setup, WeChat strategy, hiring your first local team. 12+ years on the ground in Shanghai.
