Data from Ant Group shows a robust rebound of consumer spending during the first back-to-normal Chinese New Year (CNY) travel season after the Covid-19 pandemic, especially in cross-border tourism.
Through the Alipay+ cross-border mobile payment technology solutions, Chinese travelers may pay for goods, food and beverage, recreation and entertainment at over 8 million merchants in over 70 countries and regions, all from their familiar home app Alipay, with no need to change money or carry cash. Alipay also offers in-app instant tax refunds, as well as transparent and competitive exchange rates.
A global campaign has been in full swing on the Alipay+ merchant network since December 2023 to attract Chinese tourists. In the CNY holiday week between February 9th and 12th, the number of transactions made by Alipay users overseas surpassed that of 2019 by 7% while consumer spending recovered to 82% of the 2019 level, or 2.4 times of 2023.
Closer socio-economic connections between Hong Kong SAR, Macao SAR and the Mainland, the new visa-free policies from major Southeast Asia destinations and recovering international flight capacities are key drivers of the cross-border travel boom. While traditional Asia favorites keep their enthusiastic following, more distant destinations in Europe, ANZ, the Middle East and North America are also picking up in Chinese traveler spending.
Hong Kong SAR, Japan, Macao SAR, Thailand, Malaysia, Singapore, South Korea, France, Australia and Canada are the top destinations for Chinese travelers by their Alipay spending. Thailand, Malaysia and Singapore combined saw a 7.5% increase over 2019, and a 580% leap over 2023, with Thailand leading in total volume and Malaysia showing the largest increase.
Besides a larger physical parameter, the Chinese globe-trotter is also expanding her interest from traditional activities like shopping and tourism spots-hopping, to more immersive and unique local experience. Globally in the CNY week, Chinese tourists spent 70% more on food and beverage than in 2019, venturing from downtown hotspots to out-of-the-way local treasures.
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