1. The phenomenon that Chinese tourists are no longer keen to travel abroad has caused a loss of $129 billion in the global tourism industry.
Recently, Bloomberg published an article titled "The strange phenomenon that Chinese tourists don't seem to be as keen on traveling abroad as they used to be." According to Bloomberg calculations, the global tourism industry has lost up to $129 billion due to the decline in Chinese tourists. This phenomenon reminds one of the saying that now, the moon in a foreign country is no longer so round for the Chinese. In the past, many young people in China always thought that foreign scenery, culture and food were the best, so they were willing to spend a lot of money to experience "exotic customs", and then show off in their circle of friends to show that they were traveling abroad. However, now, as time goes by, I find that my friends around me have become more rational in terms of consumption, and their mentality has also changed, and they no longer blindly follow the trend to travel abroad.
With the development of the country and the improvement of people's living standards, the domestic tourism market is becoming more and more prosperous, which is a phenomenon that everyone can see. China has countless breathtaking tourism resources, from the ice and snow world in the north to the island style in the south, from the bustling cities in the east to the vast grasslands in the west. These experiences created by beautiful scenery and rich culture have made Chinese gradually realize that domestic tourism also gives people a unique and beautiful feeling, sometimes even better than traveling abroad. The tourism boom in Zibo, Shandong last year and Harbin this year is enough to show the rise of domestic tourism. In addition, traveling abroad is no longer a mysterious and unattainable goal. In the past, many people thought that traveling abroad was a "luxury" that required a lot of time, money, and energy, such as adjusting for time differences, solving problems such as language communication, etc. Although traveling abroad is becoming more common and accessible nowadays with the ease of transportation and communication, it also requires energy and financial resources. In addition, there are obvious differences in security between foreign countries and domestic countries, especially in Southeast Asian countries, where security risks are more prominent. Therefore, it is understandable why Chinese are starting to choose domestic tourism over overseas travel.
Another eye-catching phenomenon is that during the Spring Festival in the past, we can often see the hot sale of imported cars and imported goods on the streets and alleys, which is a symbol of face in the eyes of many people. This year, however, the situation is completely different. Domestic automobiles, domestic shoes and clothing have become big hits, and even mobile phones are no longer dominated by iPhones, and domestic mobile phones such as Huawei and Xiaomi are highly sought after. This change is actually quite understandable. After all, our country is developing at a high speed, and naturally, national self-confidence is also rapidly increasing, and young people are beginning to identify with and cherish their culture more. Instead of blindly chasing foreign brands, they are beginning to embrace those domestic goods that are on the rise. In addition, in Harbin, those young people dressed in Hanfu proudly and confidently walk the streets, showing the world that traditional Chinese culture can also be combined with fashion and coolness. At the same time, the costumes of the Year of the Dragon no longer belong only to the older generation, but have become the new favorite of young people. According to the sales data of domestic e-commerce platforms, the sales of clothing and sweatshirts in the Year of the Dragon have increased significantly, of which the post-90s generation is the main force of consumption. This shows that more and more young people are beginning to take pride in their own culture, and they are confidently wearing clothes with Chinese characteristics to show the unique charm of Chinese culture. Of course, this is just an example, and the change in the concept of consumption is not only reflected in clothing. The rise of domestic automobiles, domestic mobile phones, and many other changes show the same phenomenon. In the past, many people thought that imported products were good, and even thought that they could crush domestic products, but now, people are beginning to find that domestic products can also be high-quality and fashionable. At the same time, the status of Western brands in the eyes of Chinese has also undergone a complete change, and it is no longer a high-ranking existence. After all, luxury brand LV, once seen as a dream, has also begun to learn Chinese elements to cater to the tastes of Chinese consumers. This just shows that the consumption power of the Chinese market is rising, and the change in consumption attitudes of young people in China is affecting the global business landscape.
According to Bloomberg's report, attitudes among young people in China are changing dramatically. They are no longer blindly pursuing foreign brands and tourist attractions as before, but have begun to cherish and identify with domestic tourism resources and local products more. This transformation is closely related to the development of the country and the improvement of the people's living standards. With the rise of domestic tourism and the vigorous development of tourism resources, more and more people have begun to realize that they can also get a unique and beautiful experience in China. At the same time, China's cultural self-confidence is also rising, and young people are beginning to show pride and identification with Chinese culture with their actions and purchasing choices. In this process, the rise of domestic goods and the transformation of the status of foreign brands have played an important role. The rapid rise of consumer power in the Chinese market has influenced the business landscape by changing the perception of consumption among young people in China. All this shows that young people in China are becoming completely confident!