What Happened: Chinese people are starting to think about traveling again. But not all of them will go to their dream destinations during the upcoming October national holiday, according to the research arm of a Chinese investment bank.
China International Capital Corporation pointed out that the Baidu Search Index of China’s top travel destinations has approached similar levels to those in 2019. But tourism traffic for the upcoming golden week (October 1 to 8), which is a combination of the National Day Holiday and the Mid-Autumn Festival, might end up being lower than market expectations. The local investment banking firm cited reasons like the government policy to cut half capacity at tourist attractions and schools discouraging student travels outside their home provinces.
Jing Take: Yunnan, Hainan, Qinghai, Gansu, or Tibet? Trying to predict what will be the busiest travel location for Chinese consumers is tricky. Out of all the top destinations from online travel agency Qunar.com — based on hotel bookings over the holiday — a sun-soaked shopping trip in Hainan should be the most popular.
Hong Kong is not an option, as the border remains closed due to recent outbreaks. Macau, which some say could replace Hong Kong as a travel destination, hasn’t found much momentum yet. Meanwhile, the special autonomous region only plans to open visa appointments to Mainlanders starting September 23 — one week before the holiday begins. As a result, only locals from neighboring provinces will likely make spontaneous trips, as people plan for Golden Week months in advance sometimes. Also, certain provinces might still have quarantine policies for travelers.
The Jing Take reports on a piece of the leading news and presents our editorial team’s analysis of the key implications for the luxury industry. In the recurring column, we analyze everything from product drops and mergers to heated debate sprouting on Chinese social media.