China sees rise in Chinese New Year travel, but per capita spending remains flat
South China Morning Post
by Ralph JenningsFebruary 26, 2026
AI-Generated Deep Dive Summary
China experienced a significant rise in domestic travel during this year’s extended Chinese New Year holiday, with 596 million trips recorded—a 95 million increase compared to last year. While the number of travelers reached an all-time high, per capita spending remained flat, indicating that consumers are maintaining cautious spending habits despite the surge in activity. The extended nine-day public holiday, which ended on Monday, is a major period for travel and family reunions, drawing hundreds of millions of people each year.
The increase in travel was particularly notable, with domestic mobility up 19% compared to the same period in 2025, according to Morgan Stanley. The investment bank also reported a 10.1% year-on-year rise in the average daily number of inbound and outbound travelers, while "key enterprises" saw a 5.7% increase in retail and catering sales. Goldman Sachs highlighted that the hospitality sector’s growth momentum strengthened over the holiday compared to previous long breaks.
Despite the surge in travel numbers, per capita spending has not seen a corresponding rise, suggesting that consumers remain reluctant to loosen their purse strings. This cautious spending behavior reflects broader economic trends and may indicate ongoing concerns about financial stability or uncertainty in the post-COVID era. The data underscores the challenges faced by China’s tourism and retail sectors despite the increased foot traffic.
The Chinese New Year travel boom is a critical barometer for the country’s economy, as it reflects consumer sentiment and spending patterns. While the rise in travel numbers signals confidence in the recovery of the travel sector, the lack of growth in per capita spending highlights underlying economic pressures. This balance between increased activity and stagnant spending will be closely monitored by analysts and policymakers alike.
For readers interested in global economic trends, China’s travel data offers valuable insights into consumer behavior and the broader implications for Asia’s largest economy. The interplay between rising travel numbers and flat spending suggests a complex economic landscape, where recovery is uneven across sectors. As China continues to navigate post-pandemic challenges, the Chinese New Year travel figures serve as an important indicator of the country’s economic health and consumer confidence.
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Originally published on South China Morning Post on 2/26/2026