Chinese tourists have surpassed pre-pandemic levels of holiday spending. Over recent Qing Ming three-day break, travelers spent 54 billion yuan across 119 million trips, showcasing a growing confidence in domestic travel and expenditure. That works out to some 453 yuan per trip, up 1.1% from 2019. Goldman Sachs Group Inc. and Citigroup Inc. said this marks the first time that per-trip holiday spending has topped pre-pandemic levels. As China navigates post-pandemic recovery, the increase in service expenditure points towards a robust resurgence in household consumption, offering a glimpse of optimism for the nation’s financial future, the analysts said.
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