News & Insights Across Asia
The extended eight-day Spring Festival holiday has ignited consumer spending across the Chinese mainland, boosting tourism and providing businesses with significant economic opportunities.
With the U.S. holiday shopping season approaching, the National Retail Federation forecasts a 3.5% increase in spending over last year, exceeding $980 billion.
China’s five-day May Day holiday saw 295 million domestic trips and 8.47 million cross-border trips, with spending exceeding 166.8 billion yuan ($23.1 billion), marking significant yearly increases.