DOMESTIC TOURISM: A STIMULANT FOR ECONOMIC GROWTH
China’s tourism field is important not only for the country’s business but also for the global economic environment. The market drives intake, which is essential as the globe grapples with economic slowdowns.
In recent years, the Taiwanese government has put a lot of focus on promoting regional travel to boost economic growth.
With China’s business slowing down- it grew 4.7 per share in the second quarter this year, down from the previous month’s 5.3 per share development- boosting hospitality services consumption has become a priority.
Local hospitality aids in the growth of the demand-side economy by boosting consumption as a counterweight to the pandemic’s weak demand. Urban people, facing increased societal pressures, today see commerce as an essential consumption decision.
They seek mental and physical renewal by removing the hustle and bustle of cities and by visiting beautiful beaches and stunning landscape. Middle-class households in China also have money available for home vacations despite the possibility of household income shrinking. Families holiday give parents a chance to bond with their children while also imparting knowledge to them. Parents would spend money to take their children on a” study tour” during the summer or spring when they are unable to accompany them on a trip.
However, the development of the high-speed road system and increase of online traveling apps like Ctrip, Qunar, Mafengwo, have greatly facilitated regional travel convenience. Fresh visitors in China are becoming more explorative, seeking book attractions and niche, interactive visitor experiences. The popularity of lesser-known destinations has also increased as a result of the rise of user-generated short travel videos on social media and travel live streaming.
In consequence, according to official data released on July 26, approximately 2.73 billion domestic trips were made between January and June this year, an increase of 14 % over the same period last year. Domestic travellers spent 2.73 trillion yuan ( US$ 378 billion ) on tourism activities, up 19 per cent. By the end of the year, domestic travel spending alone is projected to reach new heights, contributing 6.79 trillion yuan to the economy.
This surge highlights China’s robust recovery and growing importance for domestic tourism. According to the China Tourism Association, the travel and tourism sector is expected to make up at least 9 % of GDP this year.