China's appetite for travel hasn't faded with the end of summer. Whether it's by train or by car, hundreds of millions of people are traveling around mainland China for a holiday called Golden Week. From the Mid-Autumn Festival on Friday, Sept. 29, to the following Friday, the break runs for an entire week to celebrate China's National Day. It's a rare opportunity to take a lengthy vacation in a country where workers typically only get a few paid days off each year.
That's a category with a minimal household income of 30,000 yuan — representing just 5% of China's total population last year, according to Oliver Wyman. Their study found the majority of Chinese luxury spending in the near term will remain in China, and the casual luxury consumer has become more cautious due to concerns about the economic outlook.