From packed tourist attractions to sold-out concerts, the cultural and tourism market in China is buzzing this summer. A surge in demand has brought optimism to the consumer market.
The China Tourism Academy predicts that this summer will see the busiest travel market in five years, with an estimated 1.8 billion domestic trips made from June to August. This is projected to generate a whopping RMB 1.2 trillion (USD 160 billion) in domestic tourism revenue.
The summer box office has been a resounding success, breaking records by surpassing RMB 17.8 billion in ticket sales. The trend is expected to continue until the end of the season, with the quality of films being highly acclaimed.
The impact of this increased demand goes beyond just ticket sales. Transportation, hotel accommodation, and dining consumption have all experienced a boost as well.
According to data from the National Bureau of Statistics (NBS), commercial passenger transport volume has risen by 47% year on year in July, while dining revenue increased by 15.8%.
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