Golden Week Impact: Alibaba Group Holding Leads in Economic-Stimulus Measures

Tuesday, 8 October 2024, 13:00

Golden Week saw Alibaba Group Holding and other tech giants experience significant boosts in consumer spending. The surge in spending during this festive period can be attributed to effective economic-stimulus measures that positively influenced Chinese consumers' habits.
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Golden Week Impact: Alibaba Group Holding Leads in Economic-Stimulus Measures

Enjoying Economic Resurgence During Golden Week

During the National Day holiday from October 1 to October 7, golden week spending soared on platforms operated by major tech companies like Alibaba Group Holding, ByteDance, and Meituan. Notably, dining bookings via Meituan rose by 41.2% compared to last year, reflecting a remarkable recovery in consumer activity.

Travel Booking Boom

  • Outbound travel bookings on Fliggy surged by more than 50%, with holiday packages increasing by over 40%.
  • Average daily orders on Trip.com also reached record levels during this period.
  • Douyin reported that hotel reservations tripled and cruise trips increased by 123% compared to previous years.

Economic Stimulation from Government

This rebound in spending comes after Beijing implemented far-reaching economic-stimulus measures on September 24, which encouraged increased consumer spending.

Regional Tourism Highlights

Provinces like Shanxi also benefited significantly, with tourist sites like Xiaoxitian Temple seeing overnight popularity owing to the recent launch of the video game Black Myth: Wukong.

Enhanced Payment Dynamics

Moreover, mobile payment services, especially Alipay, noted a 120% increase in spending by foreign tourists, showcasing a positive trend in digital finance during the festive period.


This article was prepared using information from open sources in accordance with the principles of Ethical Policy. The editorial team is not responsible for absolute accuracy, as it relies on data from the sources referenced.


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