Tag: Boon

China Golden Week holiday sees millions of tourists, boon to economy

The Associated Press
Published 7:02 a.m. ET Oct. 9, 2020 | Updated 8:49 a.m. ET Oct. 9, 2020

CLOSE

The Southwest Airlines gates of National Airport are almost completely without flying customers, showing the impact COVID-19 is having on air travel.

Wochit

HONG KONG (AP) — Some 637 million Chinese traveled inside their country during the recent eight-day Golden Week holiday, spending tens of billions of dollars at a time when China hopes to get consumers to spend more and perk up the economy.

More than 45% of China’s 1.4 billion people traveled during the holiday, which began Oct. 1. They spent 466.6 billion yuan ($69.5 billion), according to data from China’s Ministry of Culture and Tourism.

That’s 21% fewer trips and 30% less spending, but the numbers still show consumption is beginning to bounce back following the battering it took earlier in the year from the coronavirus pandemic.

The

Read More

China Golden Week holiday pumps up tourism, boon to economy

HONG KONG (AP) — Some 637 million residents of China traveled inside their country during the recent eight-day Golden Week holiday, spending tens of billions of dollars at a time when officials hope to get consumers to spend more and perk up the economy.

More than 45% of China’s 1.4 billion people traveled during the holiday, which began Oct. 1. They spent 466.6 billion yuan ($69.5 billion), according to data from China’s Ministry of Culture and Tourism.

That’s 21% fewer trips and 30% less spending than last year, but the numbers show consumption is beginning to bounce back following the battering it took earlier in the year from the coronavirus pandemic.


The numbers are a “positive sign” both for China and the rest of the world that economies can revive pretty quickly once the coronavirus is under control, said Shivaji Das, managing director of research and consulting firm Frost &

Read More

China Golden Week Holiday Pumps up Tourism, Boon to Economy | Business News

By ZEN SOO, Associated Press

HONG KONG (AP) — Some 637 million Chinese traveled inside their country during the recent eight-day Golden Week holiday, spending tens of billions of dollars at a time when China hopes to get consumers to spend more and perk up the economy.

More than 45% of China’s 1.4 billion people traveled during the holiday, which began Oct. 1. They spent 466.6 billion yuan ($69.5 billion), according to data from China’s Ministry of Culture and Tourism.

That’s 21% fewer trips and 30% less spending, but the numbers still show consumption is beginning to bounce back following the battering it took earlier in the year from the coronavirus pandemic.

The numbers are a “positive sign” both for China and the rest of the world that economies can revive pretty quickly once the coronavirus is under control, said Shivaji Das, managing director of research and consulting firm Frost

Read More

A Boon For Business, But Choosing The Best Fit Requires Care

Chetan Dube is the President and CEO of IPsoft. Prior to joining IPsoft, Chetan served as an assistant professor at New York University. 

The Covid-19 pandemic quickly created a business environment of falling revenue and declining capital. That has led to a push-and-pull scenario in which companies must spend less money while generating more.

But the bottom line isn’t going to bolster itself. What can be done, and what investments can be made to deliver a positive return during one of the most difficult periods businesses have ever faced?

An increasing number of businesses are trialing cognitive artificial intelligence. While the U.S. Census Bureau reported that AI is still concentrated in large companies — and in less than 10% of businesses — more firms are discovering how to use the technology to save money and streamline operations. Whether that continues throughout the pandemic remains to be seen, but

Read More