Hong Kong CNN —China has reported a surge in tourism during the just concluded Labor Day holiday, but travelers cut back on their spending, in a sign that consumption in world’s second largest economy remains sluggish.
That was 28% more than the number of trips taken during the Labor Day holiday period in 2019, which lasted only four days.
This year’s Labor Day tourism revenue was 166.89 billion yuan ($23.6 billion), only 13.5% higher than the 2019 level.
Passengers at Nanjing Railway Station in East China's Jiangsu province on May 5, the last day of the Labor Day holiday.
On Monday, a private sector survey showed that the Caixin/S&P Global services PMI fell to 52.5 in April from 52.7 in the previous month.
Organizations:
Hong Kong CNN, Labor, Tourists, Ministry of Culture, Tourism, Passengers, Nanjing Railway, PMI, TD Securities, P Global, National Bureau, Statistics
Locations:
China, Hong Kong, Nanjing, East China's Jiangsu