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# Tourism spending in China during the Lunar New Year Break
## By Peter Hoskins, BBC News
### Published: February 19, 2024

The Lunar New Year celebrations in China saw a surge in tourism spending, with official data showing a 47% increase compared to the previous year. The unprecedented increase in domestic tourism during the holiday period reached 632.7 billion yuan (£69.7bn), exceeding pre-pandemic levels. The festive period was extended by an extra day, contributing to the significant boost in spending.

This year’s Lunar New Year break witnessed a remarkable 474 million domestic trips, marking a 34% increase from the previous year and 19% higher than 2019 levels before the pandemic. However, despite the increase in the number of trips, average spending per trip was down by approximately 9.5% compared to 2019, indicating a trend of reduced expenditure.

The surge in tourism spending reflects a positive development for ChinaÔÇÖs economy, which has been grappling with challenges such as a property market crisis, weak exports, and concerns about falling consumer prices. Additionally, official data revealed a decline in foreign direct investment (FDI) into China, reaching its lowest level in three decades, as reported by the State Administration of Foreign Exchange.

In response to the surge in tourism and its economic implications, AI legalese decoder can assist businesses and policymakers in understanding and navigating the legal and regulatory landscape in China. By offering real-time analysis of complex legal language related to tourism and consumer spending regulations, the AI legalese decoder can provide crucial insights to mitigate legal risks and make informed business decisions in the Chinese market.

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