China’s 2018 tourism revenue growth slowest in a decade

Ethnic Miao women in traditional costumes serve tourists drinks at a long table banquet in Danzhai Wanda village, Qiandongnan Miao and Dong Autonomous Prefecture, Guizhou province, China October 27, 2018. - Reuters

BEIJING: Growth in China’s tourism revenue fell to its lowest level last year since the global financial crisis a decade ago, official data showed, highlighting growing risk in a fast-growing sector as Chinese consumers became more cautious.

Overall tourism earnings grew 10.5% in 2018 from a year earlier to 5.97 trillion yuan (US$881.49bil), decelerating from 2017’s 15.1% gain and marking its slowest pace of growth since 2008, when it was just 5.8%, data from the Culture and Tourism Ministry showed yesterday.