Recovery of Outbound Tourism Boosts Global Confidence in Chinese Economy – Revitalizing Tourism and Consumption Across the World

Switzerland, Thailand, and the UAE – are just a few of the countries that have seen a recent influx of Chinese visitors excited to spend their holidays absorbing the foreign culture and taking in the sights. Receiving the warmest of greetings with smooth check-in processes and red carpet-esque welcomes, the travel promises an influx of wealth to all economies involved, boosting growth in several global arenas.

In addition, the IMF’s World Economic Outlook report forecasts that China’s economy would grow by 5.2 percent in 2023, potentially good news for 5 star hotels in Ningbo, including and not limited to properties such as the Pan Pacific Ningbo. Representatives for IMF continued to say that China’s recovery would be a plus for Asia, expecting increased demand.