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Chinese tourists opt for short trips over CNY as they tighten budgets
The Straits Times
|January 25, 2025
China's straitened economic circumstances are being reflected in Chinese New Year travel plans, with many choosing cheaper domestic trips or nearby destinations in Asia.
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Around 2.2 million to 2.6 million people are forecast to travel globally during the eight-day holiday that starts on the eve of Jan 28, according to digital marketing and research firm China Trading Desk. While that is up by as much as 30 per cent from 2024's low base, it is still below pre-pandemic levels when overseas travel was at a peak of 6.3 million.
The holiday snapshots reflect a home-bias shift among Chinese tourists, who for years were the globe's biggest spenders. Now, their travel cutbacks have businesses from airlines to retailers and hotels recalibrating.
"Chinese are being more selective about their travel," said Mr Subramania Bhatt, chief executive of China Trading Desk. "They're looking for value and experiences rather than just spending money. We're not going to see the heyday of Chinese coming in, going into big luxury shops and buying loads of handbags."
This story is from the January 25, 2025 edition of The Straits Times.
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