China experienced a significant surge in travel during this year's Chinese New Year, with a record 596 million domestic trips taken, reflecting an increase of 95 million from the previous year. This rise indicates that many Chinese citizens are eager to travel and engage in holiday festivities, suggesting a recovery in domestic tourism following previous pandemic-related restrictions. Additionally, around 17.8 million cross-border trips were recorded during the same period, showing a budding interest in international travel as borders reopen.

However, despite this notable increase in travel numbers, consumer spending per capita remained flat, indicating a concerning cautiousness among the public when it comes to spending. Analysts have pointed out that even with the surge of travelers, many people are still hesitant to spend beyond their basic needs, which could be attributed to economic uncertainties and lingering pandemic worries. For instance, the average daily number of travelers has risen by 10.1% year on year, yet this has not translated into increased consumer expenditure.

The findings suggest a dichotomy in consumer behavior where, although the desire to travel is evident, there is a reticence to spend more while traveling. This flat spending may indicate broader economic trends that could affect sectors reliant on consumer spending, such as retail and hospitality. If this pattern continues, it may pose challenges for businesses hoping to capitalize on the booming travel sector during holiday periods.