Tourism revenue during Chinese New Year in China 2017-2021

In 2021, the tourism industry generated over 300 billion yuan during the Chinese New Year travel season in the country, representing an increase from around 514 billion yuan compared to the equivalent period before the pandemic. Due to the outbreak of coronavirus, the Chinese government issued notices urging people to avoid traveling during the 2021 Chinese New 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 2021

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Sources

Release date

February 2021

Region

China

Survey time period

2017 to 2021

Supplementary notes

One yuan equals approximately 0.15 U.S. dollars and 0.13 euros (as of February 2021).

Figure for 2020 was not available due to the lockdown resulted from the coronavirus pandemic.
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 11 to 17 in 2020.

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Statistics on "Lunar New Year in China"

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