Key facts
- Chinese consumers are booking longer holidays and venturing further afield for the upcoming Golden Week.
- Analysts warn that record travel volume may not translate into bigger spoils due to weak consumer demand and a property market downturn.
- The extended holiday period, combining Golden Week and the Mid-Autumn Festival, creates a 13-day break.
- Spring Tour reported that multi-country itineraries and long-haul packages to destinations like Spain, Portugal, and New Zealand sold out by mid-August.
- A survey by Dragon Trail International showed 54% of respondents planned overseas trips during the holiday period, up from 35% a year earlier.
- Bookings for hotel stays of at least seven nights rose 123% versus last year's Golden Week, while multi-destination itineraries climbed 84%, according to Trip.com Group.
Chinese travellers are booking longer holidays and venturing further afield for this year's National Day "Golden Week" holiday, yet a prolonged slowdown in consumer spending means record travel volume may not translate into bigger spoils, analysts said. The seven-day Golden Week, beginning October 1, is being combined with the Mid-Autumn Festival, which fell on September 25, for a 13-day break.
Golden Week is typically a gauge of household spending. This year, it coincides with weak consumer demand, deflationary pressure, and a years-old property market downturn. While an extended holiday may promise a windfall for the tourism industry, it is unclear whether the excitement of travel encourages travellers to spend more, especially as consumer spending remains near stagnant elsewhere in the economy.
Last year, travel volume rose during Golden Week, but average spending per trip was a three-year low of 911.04 yuan ($135.70), according to Reuters calculations based on government data.
"Consumers still have a strong appetite for travel, but they remain cautious about how much they spend," said Ailsa Liao, senior analyst at Forthright Securities. "The result is a K-shaped spending pattern: volumes can be strong even as spending per consumer remains under pressure."
To support spending, the government launched a month-long "National Day Cultural and Tourism Consumption Month" campaign on September 22, alongside a 16-day peak rail transport period with China Railway adding high-speed and overnight services.
Away from home, Shanghai-based Spring Tour said multi-country itineraries were popular this year, with tourists willing to travel farther. Long-haul packages for Spain and Portugal, the Balkans, Northern Europe, Greece, and New Zealand sold out by mid-August, the travel agent said. Routes to Central Asia, the Caucasus, and Australia also sold out ahead of schedule. More than half of Spring Tour's long-haul travellers whose plans spanned the extended holiday period departed before September 25.
Outbound demand was markedly stronger this year, said Sienna Parulis-Cook, director of marketing and communications at Dragon Trail International. A survey the marketing firm conducted in August showed 54% of respondents were planning overseas trips during the holiday period, versus 35% a year earlier. "The market is more cost-sensitive than previously, with greater attention on getting value for money from the travel experience," Parulis-Cook said. Only 5% of respondents planned to stay in luxury hotels, with mid-range options the most popular choice at 33%, she said.
Of outbound flight bookings over the holiday period with Trip.com Group, more than half were for departures before October 1, with average duration exceeding nine days. Bookings for hotel stays of at least seven nights rose 123% versus last year's Golden Week, while multi-destination itineraries climbed 84%, Trip.com said.
The extended holiday should produce record travel numbers, yet there is no evidence of a structural jump in daily spending, said Forthright Securities' Liao. Per capita tourism spending fell during both the 2025 National Day holiday and 2026 Spring Festival, Liao said. "More travellers do not necessarily mean proportionately higher profits," she said.
Beijing resident Kenny Zhao, a real estate company employee, said he plans to spend five days in Japan during the holiday. "It feels like a waste to stay at home during such a long holiday," he said.