The Chinese economy is showing improvement, particularly in the domestic tourism sector. According to a recent press release from the China Tourism Research Institute (CTRI), domestic tourist trips are expected to reach 5.5 billion this year, with revenue from exceeding 5 trillion yuan. This represents a recovery of more than 90% and 80% of 2019 levels, respectively.
Based on the information from China's Ministry of Culture and Tourism, there were 2.384 billion domestic tourist trips in the first half of this year. This marks a 63.9% increase from the previous year. The domestic tourism revenue also reached 2.30 trillion yuan, a 95.9% increase from last year.
The high numbers could be attributed to increased travel desire among residents and greater confidence in entrepreneurship. The tourism industry's economic operation has reached its highest level over the last three years.
Considering the "summer" and National Day, Mid-Autumn Festival holiday demand, as well as the supply side and the positive impact of the policy side, there are reasons to be more optimistic about the second half of the tourism economy.
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