Robust Consumer Spending and Travel Zeal During National Day Holiday
The cultural and travel consumption market in China experienced a surge during the National Day holiday. A range of macroeconomic policies put in place prior to the holiday has revitalized the consumer market.
TroibNews 
Editor's note: Liu Xiangyan is an associate researcher at the Institute of International Studies at China Tourism Academy. The article reflects the author's opinions and not necessarily the views of CN.
This October 1 marks the 75th anniversary of the founding of the People's Republic of China. Throughout the National Day holiday, a celebratory spirit permeated the nation, with the consumer market exhibiting dynamic and lively activity.
A set of recently introduced macroeconomic policies has energized the consumer market, contributing to this festive environment. Ahead of the holiday, significant economic stimulus measures were enacted, including a reduction in mortgage rates for existing homes, a cut in the reserve requirement ratio, and the development of fresh instruments aimed at supporting stable stock market growth. These initiatives have markedly increased consumer confidence. Notably, the central government has for the first time proposed strategies for stabilizing and reviving the real estate market, highlighting the importance of household fixed assets, which has further bolstered consumer sentiment.
The initiative to replace old consumer goods with new ones is gaining traction, leading to a rise in home appliance sales. During the National Day holiday, JD reported a staggering 67 percent year-on-year increase in home appliance sales. Meanwhile, Suning saw its nationwide store traffic surge by over 200 percent, and orders for the old-for-new program surged by 132 percent compared to the previous year.
The National Day holiday is traditionally a peak travel period, and this year has been no exception, with the number of travelers reaching an all-time high. Preliminary data from the Ministry of Transport indicates that from October 1 to 7, inter-regional trips are projected to total around 2 billion, reflecting a daily average year-on-year increase of 4.1 percent.
Domestic long-distance travel took center stage in this year's National Day holiday tourism. As the final statutory holiday of the year, more travelers are choosing extended trips. Many used two days of leave in addition to the weekend, creating a 10-day holiday out of the standard seven-day period. This arrangement was particularly favored. Tuniu, an online travel agency, reported that long-distance travel comprised over 50 percent of all trips booked, with roughly 26 percent of users starting their journeys before October 1.
The National Day holiday also remained a key time for overseas travel. According to Ctrip, outbound travel orders during this period surpassed those recorded in 2019, achieving a new historic peak. Data from Qunar indicates that this year's outbound travel bookings for the National Day holiday were approximately double those of the previous year.
Programs like the National Day Culture and Tourism Consumption Month are invigorating the travel and tourism sectors. Across various locations, over 3,600 events showcasing stunning landscapes, historical culture, and national achievements are taking place, stimulating a surge in cultural and tourism spending.
During the holiday, concerts, music festivals, sports events, and anime conventions attracted large crowds nationwide. Popular institutions, including the Nanjing Museum, Hunan Museum, Henan Museum, Shaanxi History Museum, and Sanxingdui Museum, experienced high demand, with tickets becoming scarce. Iconic cultural sites such as the Confucius Temple in Nanjing, Datang Everbright City in Xi'an, Jin Shrine in Taiyuan, Longmen Grottoes, and Yungang Grottoes thrived with holiday visitors.
The unprecedented popularity of the game "Black Myth: Wukong" has also turned traditional culture and historical tours into favored options for this year’s National Day holiday. Data from Meituan, an online shopping platform, shows a 126 percent increase in searches related to "ancient architecture and temples" in the first four days of the holiday compared to the prior year, making cultural heritage sites and exhibition halls amongst the most sought-after attractions, alongside natural sites.
The trend of blending culture and tourism, along with immersive consumption experiences, is becoming increasingly pronounced. The total box office revenue during the 2024 National Day holiday is projected to surpass 2 billion yuan. New types of destinations, including foot massage and wellness centers, art exhibitions, and bathhouses, have emerged as favored travel spots. Data from Meituan indicates that searches for bathhouses soared by 230 percent year on year during the extended holiday, while consumer reviews and notes on foot massage and spa services rose by 88.5 percent compared to the same timeframe last year.
Mark B Thomas for TROIB News
This October 1 marks the 75th anniversary of the founding of the People's Republic of China. Throughout the National Day holiday, a celebratory spirit permeated the nation, with the consumer market exhibiting dynamic and lively activity.
A set of recently introduced macroeconomic policies has energized the consumer market, contributing to this festive environment. Ahead of the holiday, significant economic stimulus measures were enacted, including a reduction in mortgage rates for existing homes, a cut in the reserve requirement ratio, and the development of fresh instruments aimed at supporting stable stock market growth. These initiatives have markedly increased consumer confidence. Notably, the central government has for the first time proposed strategies for stabilizing and reviving the real estate market, highlighting the importance of household fixed assets, which has further bolstered consumer sentiment.
The initiative to replace old consumer goods with new ones is gaining traction, leading to a rise in home appliance sales. During the National Day holiday, JD reported a staggering 67 percent year-on-year increase in home appliance sales. Meanwhile, Suning saw its nationwide store traffic surge by over 200 percent, and orders for the old-for-new program surged by 132 percent compared to the previous year.
The National Day holiday is traditionally a peak travel period, and this year has been no exception, with the number of travelers reaching an all-time high. Preliminary data from the Ministry of Transport indicates that from October 1 to 7, inter-regional trips are projected to total around 2 billion, reflecting a daily average year-on-year increase of 4.1 percent.
Domestic long-distance travel took center stage in this year's National Day holiday tourism. As the final statutory holiday of the year, more travelers are choosing extended trips. Many used two days of leave in addition to the weekend, creating a 10-day holiday out of the standard seven-day period. This arrangement was particularly favored. Tuniu, an online travel agency, reported that long-distance travel comprised over 50 percent of all trips booked, with roughly 26 percent of users starting their journeys before October 1.
The National Day holiday also remained a key time for overseas travel. According to Ctrip, outbound travel orders during this period surpassed those recorded in 2019, achieving a new historic peak. Data from Qunar indicates that this year's outbound travel bookings for the National Day holiday were approximately double those of the previous year.
Programs like the National Day Culture and Tourism Consumption Month are invigorating the travel and tourism sectors. Across various locations, over 3,600 events showcasing stunning landscapes, historical culture, and national achievements are taking place, stimulating a surge in cultural and tourism spending.
During the holiday, concerts, music festivals, sports events, and anime conventions attracted large crowds nationwide. Popular institutions, including the Nanjing Museum, Hunan Museum, Henan Museum, Shaanxi History Museum, and Sanxingdui Museum, experienced high demand, with tickets becoming scarce. Iconic cultural sites such as the Confucius Temple in Nanjing, Datang Everbright City in Xi'an, Jin Shrine in Taiyuan, Longmen Grottoes, and Yungang Grottoes thrived with holiday visitors.
The unprecedented popularity of the game "Black Myth: Wukong" has also turned traditional culture and historical tours into favored options for this year’s National Day holiday. Data from Meituan, an online shopping platform, shows a 126 percent increase in searches related to "ancient architecture and temples" in the first four days of the holiday compared to the prior year, making cultural heritage sites and exhibition halls amongst the most sought-after attractions, alongside natural sites.
The trend of blending culture and tourism, along with immersive consumption experiences, is becoming increasingly pronounced. The total box office revenue during the 2024 National Day holiday is projected to surpass 2 billion yuan. New types of destinations, including foot massage and wellness centers, art exhibitions, and bathhouses, have emerged as favored travel spots. Data from Meituan indicates that searches for bathhouses soared by 230 percent year on year during the extended holiday, while consumer reviews and notes on foot massage and spa services rose by 88.5 percent compared to the same timeframe last year.
Mark B Thomas for TROIB News
