China’s consumer market is experiencing a dynamic resurgence driven by tourism, cultural influence, and capital market activity, according to a new McKinsey report. The findings highlight how record-breaking summer travel, the global popularity of Chinese cultural IPs, and a revitalized IPO landscape are shaping economic trends ahead of 2025.
Daniel Zipser, senior partner at McKinsey, told CGTN that the 'cool economy' – fueled by heatwave-driven demand for leisure and indoor entertainment – has become a key growth driver. 'This summer’s tourism boom isn’t just about numbers,' Zipser noted. 'It reflects evolving consumer preferences blending traditional attractions with tech-enabled experiences.'
The report identifies three transformative forces:
Inbound Tourism: Post-pandemic travel recovery has accelerated, with historic visitor numbers to cultural landmarks and emerging 'smart tourism' destinations
Cultural Exports: Chinese films, games, and fashion brands are gaining unprecedented global traction, creating new consumption patterns
Capital Markets: A surge in consumer-focused IPOs is injecting vitality into sectors from eco-tourism to digital content creation
Analysts suggest these trends could sustain 4-6% annual growth in China’s consumer sector through 2025, though Zipser emphasized the need for 'continued innovation in cross-sector collaborations and green investment strategies.'
