First Golden Week holiday since COVID-19 mirrors China's economic bounce

Source: Xinhua| 2020-10-07 18:36:44|Editor: huaxia

As China's first National Day holiday since the outbreak of COVID-19 epidemic witnessed a heightened public willingness to travel, the potential of domestic demand continued to be unleashed, serving as an important force for sustaining the economic recovery. Among all industries, tourism is regarded as among the first to be affected by COVID-19 and the last to recover. Given this prognosis, its momentum is a good indicator of the country's recovery from the epidemic. China saw 425 million domestic tourist visits in the first four days of the eight-day holiday that consists of the Golden Week and the Mid-Autumn Festival starting from Thursday, with total tourism revenue hitting 312 billion yuan (about 45.8 billion U.S. dollars). Consumption at tourist attractions nationwide during the holiday is expected to rebound to around 90 percent of that in the same period last year, according to an earlier report issued by the Meituan Research Institute.