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Data from China’s Golden Week Lunar New Year holiday is filtering through, and it’s another bust, after all.
The hospitality industry’s growth momentum from long holidays before Lunar New Year (LNY) Golden Week strengthened but it was all about numbers not per capita spending..
After taking into account the length of the holidays, domestic visitors and tourism revenue were up 5.7% and 5.5%, respectively, year over year.
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About the author
David Llewellyn-Smith is Chief Strategist at the MB Fund and MB Super. David is the founding publisher and editor of MacroBusiness and was the founding publisher and global economy editor of The Diplomat, the Asia Pacific’s leading geo-politics and economics portal.
He is also a former gold trader and economic commentator at The Sydney Morning Herald, The Age, the ABC and Business Spectator. He is the co-author of The Great Crash of 2008 with Ross Garnaut and was the editor of the second Garnaut Climate Change Review.