China’s Tourism Surge May Net $42 Billion for Economy This Year
Tourists visit Heidu Mountain in Haixi Mongolian and Tibetan Autonomous Prefecture, Qinghai Province.
Photographer: Zhang Zhongping/VCG/Getty Images
China could earn $42 billion this year from a shift in travel habits toward domestic tourism and a surge of foreign visitors, analysis by Bloomberg Intelligence showed, in what it called a windfall for an economy struggling to fire up consumption.
While a boost from the government’s subsidies for consumer goods is fizzling out, households are proving far more willing to shell out on services like tourism, especially as they pull back from travel abroad.