13 May 2024

2024 YTD data already surpass pre-pandemic levels – China witnessed a remarkable resurgence in the mobility of its citizens, with the number of train passengers in 2023 exceeded the pre-pandemic levels, registering a notable growth of 5.3% compared to that of 2019. Domestic flight passengers also surpassed pre-pandemic levels (2019: 586m) last year, reaching 590m. Robust growth of travel within China sustained in 2024, with domestic flight passengers witnessed a YoY increase of 29%, reaching a total of 163m passengers in 1Q24. This figure not only surpasses the same period in 2019 by an impressive 14% but also showcases the resilience and strength of the domestic travel sector. Additionally, train passengers in the first two months of 2024 have exceeded the 2019 levels by 21%. These encouraging figures in transportation underscore the continued momentum of mobility growth this year, which also served as a testament of the robust inbound tourism industry in China.

CROSBY Research – Crosby Bi-noculars (Bi-weekly Issue 58)