Stat: RMB 550 Billion Expected to be Spent Domestically Over October National Holiday

Tom Arnstein | Sep 29, 2017 1:00 pm | Add a comment | 1310 reads

It's Friday, Sep 29, meaning that as of this evening, most of us will officially be on holiday. But did you budget sufficiently?

RMB 550 billion is forecasted to be spent during the second of China’s annual Golden Weeks, the National Day holiday (Oct 1-8). National Day is a big deal for domestic tourism; workers relax, families unite, and if you hadn’t noticed, city life outside of the usual don’t-visit-unless-you-enjoy-trawling-the-seventh-circle-of-hell tourist attractions comes to a screeching halt.

The first-ever such holiday was implemented on Oct 1, 1999, by the government as a means to boost the economy. Things have come a long way since the measly 28 million trailblazers set out on vacay 18 years ago, a figure that last year reached a height of 593 million travelers.

But the joys of domestic spending were not always so assured, with some delegates complaining that week-long holidays, especially among the country’s trade, government, and tax agencies, was actually hurting the economy. The naysayers were soon silenced though after the people’s spending power proved too far gone and eclipsed any further need for concern.

READ: Beijing Rush Hour to Last 5 Hours in Days Leading up to National Holiday

Sadly, if you haven’t booked your trip out of Beijing by now, you’re likely to be marooned in the least of exotic locales: your couch, confined to eating at a seriously reduced number of locally run and Western restaurants. Our advice? Don’t waste this golden opportunity; start looking at Chinese New Year destinations now.