Chinese outbound tourists slow to return

Chinese travelers are choosy about what they buy, disappointing hopes for an immediate post-pandemic splurge

Mar 17, 2023

According to McKinsey, most shoppers are still in wait-and-see mode, and the next holiday season, in May, will offer the next clues on whether their mood was changing.

Key takeaways

  • Chinese policymakers flagged boosting domestic demand as a top priority, to further stimulate the economy;
  • Most markets have been overly bullish about 'revenge' spending and the release of pent-up demand, as the recovery in household consumption is likely to be gradual and uneven;
  • Economists suggest, that once the initial reopening rebound has happened, we shouldn't expect a further surge in consumer spending.

Get the full story at Reuters

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