Source: Bloomberg
Although the overall number of travelers has increased, during the long Lunar New Year holiday, Chinese tourists spend their money but not too generous, which highlights the world's second largest economy in trying to revitalize confidence and get rid of currency tightening.Facing difficulties.
According to Nomura and Goldman Sachs economist estimates, this year's eight -day Lunar New Year holiday, China's per capita tourism revenue decreased by 9.5%compared with the same period of 2019.Compared with the official data of these two periods, tourist travel in China has increased by 19%, and the total cost of travel has increased by nearly 8%.
Lu Ting, the chief Chinese economist of Nomura, said in a Sunday research report that although the data did see some power, we urged market participants to be cautious.Economic downturn may further deteriorate in spring.
The International Monetary Fund predicts that China will become the biggest contributor to global economic growth in the next few years, but the continuous turbulence of the property market has weakened people's confidence and hindered economic activities. China is striving to rebuild their motivation.The tightening of currency seemed to be difficult to reverse, and the price decline last month reached the maximum since the global financial crisis.
This makes travel and consumption during the most important holidays of the year.
The data of the movie box office shows that it has set a record of 8 billion yuan, although this year's Spring Festival holiday is longer than usual.The number of tourists traveling to Hong Kong and Macau has surged, and Chinese tourists can enjoy loose visa specified Singapore and other places.
