VAT Invoice Data Shows National Day Holiday Tourism Consumption Booms and Accommodation Services Become More Diverse

Deep News
Yesterday

Value-added tax invoice data released by the State Taxation Administration on October 8 shows that during this year's National Day holiday, service consumption across the country was strong, with average daily sales revenue in related industries increasing 19.5% year on year. Among them, tourism consumption showed bursting vitality, and accommodation service types became more diverse.

From the data, during the National Day holiday, the tourism consumption market continued to heat up, with sales revenue from tourism sightseeing and entertainment services increasing 23.6% year on year. Among these, travel agency services and amusement parks grew 26.2% and 41.2%, respectively.

Driven by tourism consumption, diversified accommodation demand was released, with budget chain hotels and homestay services increasing 6.3% and 12.8%, respectively.

At the same time, the culture, sports, and entertainment sectors continued to enrich the supply of new business formats and diverse new scenarios, effectively promoting the development of the consumer market. Many places held concerts, cultural performances, and folk activities, driving sales revenue from culture and arts services up 20.9% year on year. Among these, literary and artistic creation and performance services and mass cultural and sports activities grew 21% and 28.3%, respectively.

The traffic from events such as the China Open was converted into incremental consumption, driving sales revenue from sports services up 29.4% year on year.

In addition, catering consumption was robust, with sales revenue from catering services increasing 9% year on year. Among these, specialty food streets and the night market economy flourished, promoting a 15.5% year-on-year increase in snack services; fast food services grew 30.6% year on year, providing convenience for consumers dining while traveling; and the rapid development of new-style tea drinks drove beverage and cold drink services to more than double year on year.

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