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Stock impact report

Tourism in China surges during May Day holiday but travelers turn frugal [CNN]

S&P Global Inc. (SPGI) 
Last s&p global inc. earnings: 4/28 07:10 am Check Earnings Report
US:NYSE Investor Relations: stocktwits.com/symbol/s
Company Research Source: CNN
Tourists made a total of 295 million trips within mainland China during the five-day-long holiday , which ended on Sunday, the Ministry of Culture and Tourism said on Monday. That was 28% more than the number of trips taken during the Labor Day holiday period in 2019, which lasted only four days. Months later, in 2020, the Covid-19 pandemic would strike China and the world, largely shutting down travel. This year's Labor Day tourism revenue was 166.89 billion yuan ($23.6 billion), only 13.5% higher than the 2019 level. That means tourists were spending less money per trip compared to five years ago, as their average spending dropped 6% to 565.73 yuan ($80). There was a similar pattern at China's box office. During the holiday period, 37.77 million people went to the cinema, exceeding 2019's 35.09 million. But ticket sales were about the same as 2019 levels, reaching 1.527 billion yuan ($215.7 million). Chinese consumers have curtailed spending as the economy weakens and Show less Read more
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