Tourism revenues during China’s Golden Week holiday fell by around 5% year-on-year, while ongoing Covid-19 curbs also saw a decline in the overall number of trips taken, reports Reuters. The data weighed on the outlook for China’s overall retail sales, which have slowed much more sharply than expected when new Covid-19 outbreaks struck a handful of Chinese cities over summer.
The seven-day holiday in China from Oct. 1-7 to mark National Day is one of the busiest travel periods in the country and an indicator for consumer demand in the world’s second-largest economy.
Domestic tourism revenues totaled RMB 389.06 billion ($60.36 billion), the SCMP reports, citing data from China’s Ministry of Culture and Tourism. That was down 4.7% year-on-year and still under 60% of the revenues recorded in the same week before the pandemic.