Summary of China Sees a Boom in Local and Overseas Traveling During Chinese New Year as Post-85ers Become Main Spending Power

YiCai Global,

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China Sees a Boom in Local and Overseas Traveling During Chinese New Year as Post-85ers Become Main Spending Power summary
The spending power of China’s “post-85ers” takes Chinese New Year tourism to new heights.

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Tourism in China and elsewhere continues to benefit from the increased spending power of the “post-85” generation of Chinese travelers, especially during the one-week New Year holiday that starts between January 21 and February 20. In 2017, the number of people traveling within China during that period tripled compared with the previous year. Le Yan, a reporter for Chinese financial content provider YiCai Global, interviewed China’s largest online travel agencies to understand what is driving the travel trend. getAbstract recommends this article to people in the online travel agency industry, economists, sociologists, frequent travelers and trend watchers.

In this summary, you will learn

  • Why more and more Chinese people are traveling, especially during the New Year holiday; 
  • Why the younger generation is driving this trend; and 
  • Where people like to travel.
 

Summary

The Chinese celebration of the Lunar New Year, or Spring Festival, is a weeklong national holiday that starts each year between January 21 and February 20 and causes the world’s greatest annual migration of people. As migrant workers and students go home for family reunions, travelers make nearly three billion trips across the country. But more and more people travel during this time for leisure. In 2017, the number of people traveling within China tripled compared with the year before, and spending per domestic traveler increased by 20% to about ¥700 ($101) a day. International travel remains popular as well, with 48% of Chinese holiday travelers going abroad.

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About the Author

Journalist Le Yan reports for YiCai Global, China’s largest financial content provider.


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