Alipay and WeChat Pay Drive Inbound Spending in China During Labour Day
Alipay and WeChat Pay Lead Inbound Travel Spending During Labour Day
Early figures from China’s mobile payment frontrunners, Alipay and WeChat Pay, showcased significant growth in inbound travel spending throughout the Labour Day holiday, recently concluded on May 5. Alipay, a subsidiary of Ant Group, reported that transactions and total spending by incoming travelers surged across its network, which encompasses 13 notable e-wallets, including those from Hong Kong and Macau.
Increased Travel Transactions and Spending
During the Labour Day period, total transactions doubled compared to the previous year, largely attributed to China’s enhanced tax refund policies and new visa-free entry regulations. This remarkable rise reflects the efforts of Chinese tech giants to streamline cross-border travel payments for international tourists.
- Ant Group's AlipayHK led in spending totals.
- Malaysia’s Touch 'n Go e-Wallet and Kazakhstan’s Kaspi.kz followed closely.
- WeChat transactions by foreign users in China nearly tripled during the holiday.
Overall, inbound travel bookings saw a remarkable increase of 141% year on year, fueled by approximately 1.2 to 1.5 million travelers projected to enter mainland China. This marks a significant rebound and speaks volumes about the future of tourism and travel spending in China.
This article was prepared using information from open sources in accordance with the principles of Ethical Policy. The editorial team is not responsible for absolute accuracy, as it relies on data from the sources referenced.