Despite HNA’s contraction, China’s airline market remains fundamentally strong.
Most of the flights are for destinations in mainland China, the only place having a largely quarantine-free bubble with Macau.
With the reorientation of the flow of tourists to the domestic market, Hainan tours are in increasing demand.
China’s capital city Beijing recorded a total of 2.75 million tourists over the first three days of the holidays, an increase of 1.2 times year-on-year.
Air and bus travel are also down considerably.
Some 48 million people would be staying where they work instead of traveling to their hometowns for the seven-day long break.
Compared to the previous year, 53% of those surveyed are more likely to travel in their own country and 46% are more likely to travel with their own car.
China’s share of the global luxury market—the goods typically sold at duty-free—almost doubled last year to 20%.
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