An equivalent to the ENTIRE POPULATION OF BRAZIL traveled just this weekend and spent 1 quarter of Colombia's Budget for 2023, or seen from another angle, it spent four times the budget allocated by Spain to defense during all of 2023.
An equivalent to the ENTIRE POPULATION OF BRAZIL traveled just this weekend and spent 1 quarter of Colombia's Budget for 2023, or seen from another angle, it spent four times the budget allocated by Spain to defense during all of 2023.
China’s services sector enjoyed a long-awaited recovery in consumer spending over the five-day “golden week” holiday, with the level of domestic tourism revenue exceeding 2019 levels for the first time since the start of the coronavirus pandemic.
But after domestic tourism revenues jumped to 101 per cent of pre-pandemic levels, reaching 148 billion yuan (US$21.4 billion), analysts warned the explosion of pent-up demand might not be sustainable, with the next leg of the economic recovery set to be more arduous.
Around 274 million people travelled over the Labour Day or May Day holiday, which concluded on Wednesday, with the figure reaching 119 per cent of pre-pandemic levels in 2019, according to the Ministry of Culture and Tourism, as tourists flocked to attractions after China lifted its last remaining virus restrictions at the start of the year.
“The strong Labour Day holiday tourism data, together with the still-solid April services [purchasing managers’ index], bode well for consumption and services recovery in coming months, despite the softening in manufacturing growth momentum,” Goldman Sachs said on Thursday.
China’s economy had earlier beat expectations in the first quarter, growing by 4.5 per cent compared to a year earlier, amid Beijing’s all-out recovery measures.
Macau get profits and hotel occupancy increase at 93.2%
According to information from the Macao Government Tourism Office (MGTO), the average occupancy rate of Macau’s hotels during the recent May Day Golden Week holiday was 85%, while visitor arrivals reached 62% of pre-pandemic levels.
Visitor numbers during the five-day holiday totaled 491,968 at an average of 98,394 per day. Visitation peaked on Sunday 30 April at 133,911, with hotel occupancy on that day hitting 93.2%. The MGTO said Friday that of the 491,968 visitors, around 376,000 were from mainland China, with the weekly average representing recovery to 62% of 2019 levels.
The average occupancy rate for the five-day holiday was 85%, up 26.5 percentage points from the Labour Day holiday last year.
