While China celebrates its National Day holiday, a striking trend is emerging: people are drastically cutting back on travel, dining out, and shopping.

Tourist destinations are experiencing unusual changes: guesthouses struggling even with accommodation rates as low as 50 yuan per night, hotels investing heavily but failing to attract guests, and groups of eight trying to share a single room.

Furthermore, despite the large number of tourists, insufficient revenue is being spent on accommodations and restaurants. "Extreme budget travel," where travelers cut back on hotel costs and utilize options like sleeping in their cars, is becoming increasingly popular.

Why are people so tight with their spending during this major holiday?

This article will examine in detail the changes in consumption occurring during China's National Day holiday and the current state of the guesthouse and tourism industries affected.

#ChineseEconomy
#China
#NationalDay
#ChinaTourism
#SlowExplanation

00:00 ~ OP
00:40 ~ 1. Chinese People Completely Seal Their Wallets! Despite National Day, a 6-story guesthouse has no guests.
05:18 ~ 2. 2 million yuan gone! Luxury guesthouse plummets from 1,000 yuan to around 100 yuan.
10:17 ~ 3. 28-room guesthouse sold off! 8 people per room, "the rest sleep in their cars."
14:37 ~ 4. Over 80% of guesthouses in Lijiang are operating at a loss! Even at 50 yuan per night, they can't fill up.
19:07 ~ 5. 1.12 billion tourists, yet no profit! Extreme budget travel is spreading in China.
23:44 ~ 6. Working on weekends despite a major holiday! Public dissatisfaction explodes over China's "adjusted holiday."
28:16 ~ 7. "Consumption boycott" is the number one trending topic! People have stopped leaving their homes.
32:25 ~ 8. Chinese tourist destinations are plunged into a charging hell! Even a thousand-year-old breathtaking scenery ruined.
36:59 ~ 9. A mere 1% return rate! The fate of Chinese tourism: crowds of people but no money.