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Chinese Spring Festival

Chinese Spring Festival Showcases Economic Vigor and Tourism Boom, Fuelling Optimism for 2024

Beijing, February 19, 2024, The Europe Today: On Monday, a spokesperson from the Chinese foreign ministry highlighted the economic vibrancy showcased during the Spring Festival of the Year of the Dragon. The festivities not only exemplified the surge in domestic cultural and tourism consumption but also witnessed a remarkable increase in both inbound and outbound travel, fostering a positive outlook for China’s economic landscape in 2024.

In response to media reports, spokesperson Mao Ning emphasized the significant role of the Spring Festival in boosting market expectations and confidence, becoming a peak time for global tourism. “As China implements a visa-free policy for a larger circle of friends, the country sees its inbound and outbound travels soar, with more Chinese tourists going abroad and more foreign travelers visiting China,” stated Mao.

The Spring Festival of the Year of the Dragon served as a window into China’s economic strength, with data revealing substantial growth in tourism-related expenditures. During the holiday period, China’s domestic tourism spending reached 632.69 billion yuan, marking a 7.7 percent increase compared to the same period in 2019. Notably, the box office revenue during the festival reached a record high of 8.02 billion yuan.

Mao highlighted the positive global impact of China’s booming outbound travel, describing it as bringing “dividends of holiday consumption and the auspiciousness and joy of the Lunar New Year to the world.” The spokesperson affirmed that the Spring Festival’s economic significance extends beyond national borders, contributing to the global tourism sector.

Looking ahead, Mao affirmed China’s commitment to facilitating cross-border travel, promoting high-level opening up, and creating more favorable conditions for countries to share in the opportunities presented by China’s economic growth. As the Spring Festival sets a tone of upward momentum, China aims to continue its role as a catalyst for positive global economic engagement and collaboration.