Stuck in China, consumers are spending millions for luxury goods in Hainan

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Stuck in China, consumers are spending millions for luxury goods in Hainan
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Chinese consumers opened their wallets to shop during the week-long National Day holiday that ended Thursday, even as travel numbers fell.

Chinese consumers opened their wallets to shop even as travel dropped during the week-long National Day holiday that ended Thursday.

However, tourism spending of 389.1 billion yuan from Oct. 1 to 7 was only about 60% of what it was in 2019, and down 4.7% from the same period in 2020, according to China's Ministry of Culture and Tourism.

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