Golden Week is the single biggest holiday for the Chinese and last year saw around 750 million people – half of China’s population – hit the road. While many travel domestically, increasing numbers are using this opportunity to fulfil dreams of further-flung travel. At least 4 million Chinese travelled overseas in Golden Week in 2015 and that figure is set to be surpassed this year.
Record Golden Week spend expected in 2016
While we’re probably all relieved not to be jostling for space amongst the 12.5 million Chinese who travelled on China’s railways on just one day of Golden Week last year, the UK is preparing for a bumper week. Golden Week visits by Chinese tourists to London quadrupled in 2015 compared with 2014, and this trend is certain to continue in 2016 thanks to the recent boost in Chinese holidaymakers driven by the beneficial exchange rate. Harrods has been running Golden Week promotions for several years, offering special ‘lucky’ products, increasing its number of Mandarin-speaking staff and highlighting the holiday in its WeChat account.
Golden Week shopping promotions go global
The Chinese are by far the highest spenders of all tourists and recent research by global tax-free shopping company Global Blue found that the average Chinese holidaymaker’s shopping budget is ¥16,702 (around £1,900). It’s hardly surprising, then, that plenty of other destinations and retailers have a history of bespoke activity to attract the Chinese in Golden Week. Department stores including New York’s Macy’s, Paris’ Galeries Lafayette and Spain’s El Corte Ingles all ran special Golden Week promotions last year. El Corte Ingles partnered with luxury watchmakers to offer exclusive gifts with purchases, and publicised special offers at its flagship Castellana store in Madrid via its WeChat account. South Korea even invented its own holiday, South Korea Black Friday, to encourage Chinese tourists to shop.
Chinese overseas trips continue their unstoppable rise
Golden Week begins with China’s National Day on 1 October, the day the People’s Republic was founded in 1949. And thanks to the PRC’s economic growth and opening up over the past few years, the flow of Chinese travelling overseas continues to grow. There was a +17% increase in overseas trips organised by Chinese travel agencies in Q2 2016 and that period was also the first time that visits by mainland Chinese tourists to non-Chinese overseas destinations exceeded those to ‘Greater China’ (Hong Kong, Macau and Taiwan), underlining the unstoppable trend towards longhaul travel.
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