As China’s National Day holiday approaches, expectations for outbound travel are soaring. Simon Cheung, head of Asia Travel & Leisure Research at Goldman Sachs, described the outlook as “rosy and robust” during an interview with CNBC. Cheung anticipates that year-on-year growth in outbound travel may reach between 50 to 60 percent.
The optimistic forecast reflects the strong desire among Chinese travelers to explore international destinations after years of limited travel opportunities. The anticipated surge is set to benefit global tourism markets, airlines, and hospitality sectors looking to welcome back visitors from the Chinese mainland.
“We are seeing a significant uptick in travel bookings and inquiries,” Cheung noted. “The appetite for overseas travel during the National Day holiday is remarkably strong, signaling a robust recovery in the travel industry.”
The National Day holiday, also known as “Golden Week,” is traditionally a peak travel period in China, with millions of residents taking advantage of the extended break to travel domestically and abroad. This year’s holiday is expected to be particularly notable as travelers seek new experiences and destinations.
Business professionals, investors, and market analysts are closely monitoring these trends for insights into economic recovery and consumer confidence in Asia. The anticipated growth in outbound travel also presents opportunities for international businesses and tourism boards aiming to attract Chinese visitors.
For academics and researchers, the resurgence in travel offers a wealth of data on post-pandemic travel behaviors and economic impacts. Meanwhile, Asian diaspora communities and cultural enthusiasts are eager to reconnect with the region’s dynamic developments during this vibrant holiday period.
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Goldman Sachs: China's National Day holiday travel 'rosy and robust'
cgtn.com
