McKinsey & Company's survey of economic conditions from early 2024 confirm what we see, anecdotally: Chinese consumption, discretionary spending, leisure activities, and domestic travel are booming. Even in international travel, where overall outbound travelers are still 20% below pre-pandemic levels (2019), per-person spending is up substantially to key tourist markets in Europe and Asia. This even after Chinese household savings of $7 trillion in 2023, and a modest fall in Foreign Direct Investment.

Resources and links:
https://www.mckinsey.com/cn/our-insig...