Chinese travelers are expected to spend 100 billion yuan ($14.5 billion), while on vacation outside the mainland during the upcoming Chinese New Year holiday in late January and early February, according to Ctrip, China’s largest travel services website. According to Caixin, rising incomes and friendlier visa policies for Chinese passport holders have allowed more people to break from the tradition of spending the holiday at home. A depreciating yuan is unlikely to make a significant dent in travel numbers, the company said. Ctrip predicts that about 6 million Chinese will travel outside the country during the seven-day holiday, which starts on Jan. 27. Nearly 5.2 million people traveled abroad during the 2016 Lunar New Year, a 10% increase from a year earlier, according data from the China National Tourism Administration.
You must log in to post a comment.
Yes, I would like to receive emails from China Economic Review. (You can unsubscribe anytime)
Copyright © 2018 SinoMedia Group Limited All rights reserved