| Information |
| During the Lunar New Year, the mass migration in China will peak with approximately 9 billion trips expected. |
| The holiday duration is extended to eight days to stimulate tourism and support the economy. |
| The demand for travel is increasing, with 510 million train trips and 90 million flights. |
| International tourism to Southeast Asia is experiencing significant growth, particularly to Vietnam and Singapore. |
| The Lunar New Year offers authorities an opportunity to revive a struggling economy. |
| Despite efforts to boost consumer spending, expenditures remain below normal due to economic concerns. |
| The cinema industry sees growth during this period, with ticket sales rising sharply. |
| Businesses and restaurants hope to benefit from a similar increase in consumer spending. |
Travel forecasts during the Lunar New Year #
The period of the Lunar New Year generates an unprecedented travel dynamic in China. Authorities expect nearly 9 billion movements to celebrate this major cultural event. This impressive figure is explained by the tradition of urban workers returning to their hometowns to reunite with their families for this iconic festival.
Impact on the national economy #
The festive period serves as a lever to revive the national economy, particularly affected by recent economic fluctuations. By offering an extended eight-day holiday, the Chinese government aims to boost consumption by encouraging travel and spending across various sectors. Measures such as promoting tourist destinations have also been implemented to attract consumers.
Preferred modes of transportation #
The Chinese prefer different means of transport for their travels. Authorities estimate that 510 million train journeys will be made during the festivities. Airlines also anticipate the use of 90 million plane tickets for international connections. While traveling across the country, a majority of travelers choose cars for comfort and practicality.
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Emergence of international destinations #
The demand for overseas travel sees a significant increase during this festive period, particularly to Southeast Asia. Tickets for travel to countries like Vietnam, Singapore, and Indonesia have recorded an increase of over 50%. Interest in Hong Kong has nearly doubled, and Japan is seeing a 58% rise in plane ticket purchases.
Impact on sectors #
The Lunar New Year celebrations also favor certain industries, particularly the cinema sector. After a 22.6% drop in revenue the previous year, the Chinese entertainment industry has recorded ticket sales exceeding 55 million dollars just days before the celebrations. The film “Legends of the Condor Heroes” significantly boosts sales, reinforcing the sense of economic optimism.
Changing consumption patterns #
The spending frenzy during the Lunar New Year is not without challenges. Despite authorities’ efforts to facilitate consumption, reports indicate that spending is down compared to previous years. Uncertainty regarding the real estate market and concerns about job security are constraining consumer behavior.
Revitalizing the local economy #
Chinese cities hope to benefit from the influx of visitors during this festive period. Restaurants and businesses expect to see their revenues rise, mirroring the dynamic movement of the cinema. Special offers and promotions planned during this time aim to encourage consumption while celebrating cultural traditions.
Future perspectives #
The measures put in place by the Chinese government, such as financial support for businesses and promoting domestic tourism, reflect a desire to revitalize a struggling economy. Stakeholders in the travel sector, while facing this unique opportunity, are called to innovate to adapt to new consumer expectations. A careful look at today’s trends prepares the ground for future economic challenges.
The information in this report comes from reliable sources such as Reuters and the World Travel and Tourism Council.
