Focus on Arts and Ecology

February 10, 2023 

China witnessed strong rebounds in travel and consumption in the first month of 2023, following the lifting of COVID-19 restrictions. For one thing, tourism and tourist spending bounced back significantly during the week-long Chinese New Year holiday.

· Domestic trips during the holiday from January 21 to 27 hit 308 million, up 23 percent from the same period last year, equivalent to 89 percent of the 2019 figure, before the pandemic began, according to data from the Chinese Ministry of Culture and Tourism

· Tourism revenue nationwide rose by 30 percent compared with last year, reaching 375.8 billion yuan ($55.5 billion), and 73 percent of what was seen in 2019

In other news: 

China's consumer price index (CPI), the main gauge of inflation, rose 2.1 percent year on year in January, data from the National Bureau of Statistics (NBS) showed on Friday.

· Food prices rose 6.2 percent for the month, following an annual rise of 4.8 percent in December. However, pork prices grew slower than the previous month, increasing by 11.8 percent

Will China be a top place for senior tourism?

China is witnessing a massive boom in both domestic and outbound tourism following the lifting of COVID-19 travel restrictions. With its aging population steeply rising, China is also at the cusp of becoming a top destination for elderly-friendly tourism in the coming years.

It is estimated that seniors will comprise nearly a quarter of the world's population by 2050, compared to only 10 percent in 2000. China, with its demographic composition, will be among the largest contributors to global senior tourism.

Why?

· The country is approaching a "moderately aging" scenario, in which 20 percent of its population is comprised of elderly people

· According to data from National Bureau of Statistics of China, by 2021, the number of elderly people reached 267 million, about 18.9 percent of the country's population

· These figures are expected to exceed 300 million and 20 percent in 2025 and 400 million and 30 percent in 2035, respectively

· Negative domestic population growth in 2022 pointed to a complex situation: The country is facing issues with pensions, consumption, economic crisis, and so on. In preparation for this demographic shift and its negative impacts, China has explored feasible paths to healthy aging since 1999, when the country officially became an aging society

(Sources: China Report)