Tourism revenue during Chinese New Year in China 2017-2019

Traveling during the Spring Festival holiday has become trendy in China. In 2019, the tourism industry generated over 510 billion yuan during the Chinese New Year travel season in the country, representing an increase of 8.2 percent compared to the equivalent period in the previous year.

Traveling during Spring Festival in China

Thanks to urbanization and modernization, a new trend of “going out to see the world” has emerged among Chinese consumers. The traditional family reunion and celebration of Chinese New Year is no longer restricted to a designated hometown. More and more people choose online booking services, like Ctrip, to arrange a family trip before New Year’s Eve. In 2019, around 415 million Chinese made a domestic trip during the holiday break. Along with a rising individual income, there would be more people opting for a journey during Spring Festival.

China’s tourism industry

Tourism plays an important role in China’s domestic economy. In 2018, the travel industry in the country (236040) generated over five trillion yuan, almost a five-fold increase compared to a decade ago. In fact, China is one of the fastest growing inbound and outbound travel markets in the world. Each year, Chinese tourists make over a hundred million outbound journeys, spending the most on international tourism compared to other countries. It is mainly Asian countries reaping the benefits of this lucrative market, however Europe could be the next top destination continent with its growing popularity among high-end Chinese travelers.

Tourism revenue during Spring Festival in China from 2017 to 2019

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Sources

Release date

February 2019

Region

China

Survey time period

2017 to 2019

Supplementary notes

Note: 1 yuan equals approximately 0.14 U.S. dollars and 0.13 euros (as of February 2020).

Spring Festival holiday refers to the period between Chinese New Year Eve and the sixth day after the New Year of the lunar calendar. The holiday was from February 4 to 10 in 2019.

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Statistics on "Lunar New Year in China"

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