The recent Spring Festival, marking the Year of the Dragon, saw explosive growth in China's cultural and tourism consumption, especially in inbound and outbound travel. As China expands its visa-free policy to more countries, inbound and outbound travel has soared, with an increase in Chinese tourists going abroad and more foreign travelers visiting China. The Spring Festival has become a peak time for global tourism. This year's festival offered the world a window into China's economic vibrancy, which has boosted market expectations and confidence, and bodes well for 2024.
More Chinese are now choosing to travel during the Spring Festival to experience different cultures and the Chinese New Year atmosphere. According to data from the Ministry of Culture and Tourism, 474 million domestic tourism trips were made during the Spring Festival holiday, an increase of 34.3 percent over the same period last year and a 19 percent rise from the pre-pandemic level in 2019. Domestic tourists spent about 632.7 billion yuan ($89 billion), up 7.7 percent from the same holiday period in 2019. The surge in outbound travel also delivered the dividends of the holiday consumption and the auspiciousness and joy of the Chinese New Year to the world.
The Spring Festival has become a lucrative movie season in China, with cinema attendance becoming an increasingly popular activity during the holiday. According to the State Film Administration, China's box office revenue during the festival totaled 8 billion yuan, marking an 18.47 percent increase from the previous year. More than 163 million tickets were sold, setting a new record.
An estimated 9 billion passenger trips are expected during the 2024 travel rush, a 40-day period from Jan. 26 to March 5, also known as "chunyun," according to the country's transport ministry. China's railway operator said the nation's railways are set to handle 480 million passengers during this season, averaging 12 million trips daily, up 37.9 percent from the previous year.
As the Spring Festival signals growth momentum, China will further facilitate cross-border travel, enhance high-level opening-up, and create more favorable conditions for countries to share in the opportunities presented by China.
(Ye Jingyi, as an intern, also contributed to this video.)
