<img src='https://news.cgtn.com/news/2024-10-08/Strong-consumption-and-travel-enthusiasm-during-National-Day-holiday-1xx3xXtBOLe/img/5f3865acf17d4bf58638c56957227917/5f3865acf17d4bf58638c56957227917.jpeg' alt='Huge crowds of people visit a century-old bridge during the National Day holiday in Ganzhou, Jiangxi Province on October 5, 2024. /CFP'
Editor’s note: Liu Xiangyan is an associate researcher of the Institute of International Studies at China Tourism Academy. The article reflects the author’s opinions and not necessarily the views of CGTN.
This October 1 marks the 75th anniversary of the founding of the People’s Republic of China. During the National Day holiday, a joyful atmosphere of celebration filled the country, where the consumer market showed ever-vibrant and energetic scenes.
A series of recently implemented macroeconomic policies ahead of the holiday have invigorated the consumer market. Prior to the holiday, significant economic stimulus measures were introduced, including lowering mortgage rates on existing homes, reducing the reserve requirement ratio, and creating new tools to support the stable development of the stock market, all of which have greatly boosted consumer confidence. For the first time, the central government has proposed promoting the stabilization and recovery of the real estate market, and emphasizing the value of household fixed assets, which have further enhanced consumer confidence.
The policy of replacing old consumer goods with new ones continues to gain momentum, leading to increased sales of home appliances. During the National Day holiday, JD reported a 67 percent year-on-year increase in home appliance sales, while Suning’s nationwide store traffic rose by over 200 percent, with orders for the old-for-new program increasing by 132 percent compared to the previous year.
The National Day holiday is consistently a peak travel season, with the number of travelers setting a new historic high this year. Preliminary statistics from the Ministry of Transport indicate that from October 1 to 7, the total number of inter-regional trips is expected to reach approximately 2 billion, with a daily average year-on-year increase of 4.1 percent.
<img src='https://news.cgtn.com/news/2024-10-08/Strong-consumption-and-travel-enthusiasm-during-National-Day-holiday-1xx3xXtBOLe/img/1c86aeea296e468c999d8894c0a0345c/1c86aeea296e468c999d8894c0a0345c.jpeg' alt='Advertising for replacement of old consumer goods with new ones to attract consumers in Qingdao, Shandong Province, on October 6, 2024. /CFP'
Domestic long-distance travel dominated this year’s National Day holiday tourism market. As the last statutory holiday of the year, more travelers opted for longer journeys. Many people took two days off, combined with a weekend, extending the original seven-day holiday to 10 days. This adjustment scheme was particularly popular. According to data from Tuniu, an online travel agency, long-distance travel accounted for over 50 percent of the total, with nearly 26 percent of its users choosing to start their trips before October 1.
The National Day holiday continued to be the main period for overseas travel. According to Ctrip, the number of outbound travel orders during the National Day holiday exceeded that of 2019, setting a new historical high. Data from Qunar shows that this year’s bookings for outbound travel during the National Day holiday were roughly doubled compared to the same period of last year.
Initiatives such as the National Day Culture and Tourism Consumption Month are fueling the travel and tourism market. Across various regions, over 3,600 events featuring stunning landscapes, historical culture, and national achievements are being held, driving a surge in culture and tourism consumption.
<img src='https://news.cgtn.com/news/2024-10-08/Strong-consumption-and-travel-enthusiasm-during-National-Day-holiday-1xx3xXtBOLe/img/44c71fcf8d074fcf856bb6ab72e67eea/44c71fcf8d074fcf856bb6ab72e67eea.jpeg' alt='Visitors watch a performance at the Strawberry Music Festival in Dongguan, Guangdong Province, on October 4, 2024. /CFP'
During the National Day holiday, concerts, music festivals, sports events, and anime conventions drew in significant crowds across the country. Popular museums like the Nanjing Museum, Hunan Museum, Henan Museum, Shaanxi History Museum, and Sanxingdui Museum were in high demand, with tickets hard to come by. Cultural tourist attractions like the Confucius Temple in Nanjing, the Datang Everbright City in Xi’an, the Jin Shrine in Taiyuan, Longmen Grottoes, and Yungang Grottoes were found bustling with holiday makers.
With the explosive popularity of the game “Black Myth: Wukong”, traditional culture and historical site study tours have become one of the top choices for this year’s National Day holiday. According to data from online shopping platform Meituan, in the first four days of the holiday, searches related to “ancient architecture and temples” increased by 126 percent compared to the previous holiday period, making cultural heritage sites and exhibition halls the most sought-after categories, aside from natural attractions.
The trend of integrating culture and tourism, along with immersive consumption experiences, is becoming increasingly prominent. The total box office revenue (including pre-sales of movie tickets) during the 2024 National Day holiday period was estimated to exceed 2 billion yuan. New types of destinations, such as foot massage and wellness centers, art exhibitions, and bathhouses, have all emerged as popular travel spots. According to Meituan data, during the long holiday, searches for bathhouses increased by 230 percent year on year, and consumer reviews and notes related to foot massage and spa services rose by 88.5 percent compared to the same period of last year.
