More Chinese are likely opting for Bangkok than Sydney or San Francisco. The week-long holiday, which takes place this year in the first week of February, is one of China’s longest breaks and over 400 million people are expected to travel across the country for family reunions, according to Chinese travel agency Ctrip. It estimates 7 million will go abroad. Hotels and travel agencies in Asian countries from Thailand to Japan anticipate higher numbers than a year ago of Chinese tourists, who have become a powerful spending force with the ability to make, or break, the fortunes of retailers and tourism brands. But recently, the numbers going to the United States, Australia and New Zealand have fallen or only show small increases. “We see the growth start to slow a little bit and per pax spending, especially on shopping, declining,” said Hunter Williams, a U.S.-based partner at management consultant firm Oliver Wyman. The consultancy says that average spending on overseas shopping a year ago was 5,800 yuan ($855), compared with 8,000 yuan around Lunar New Year in 2016. In 2018, the Chinese economy grew at its slowest rate in nearly three decades, and economists expect a further decline this year,… Read full this story
- People are celebrating Lunar New Year by dressing up their dogs
- UN chief extends Chinese Lunar New Year wishes
- £40m: the cost of BT's stay-at-home staff
- 8 Tech Resolutions for the New Year
- 14 New Year's Resolutions You'll Actually Stick With
- Biggest Full Moon of 2018 Shines in Spectacular New Year's Photos
- Stay at home and work out to the Max
- Full Wolf Moon: New Year's Supermoon Is the Biggest of the Year
- Happy frigid-ass New Year: Coldest NYE in 70 years awaits revelers in U.S.
- The Financial 'Workout' That'll Make You Money in the New Year
Cost-conscious Chinese tourists staying closer to home for Lunar New Year have 309 words, post on e.vnexpress.net at January 31, 2019. This is cached page on Talk Vietnam. If you want remove this page, please contact us.