China’s 2024 National Day Golden Week Sees 60% Rise in Outbound Travel Transactions and 120% Surge in Inbound Spending YoY via Alipay
- The number of outbound travel transactions made by Alipay users increased by more than 60% year-on-year. Top destinations included Malaysia, Korea, Thailand, Hong Kong SAR, and Singapore.
- In China, international travelers spent 120% more year-on-year using their international card-enabled Alipay accounts at merchants during the first four days of the National Day holiday.
- Alipay Tap! saw transaction volume increase by 130% during the holiday compared with the same period in September.
- Travelers made over 20 million interactions with the AI life assistant Zhixiaobao for an enhanced travel experience.
During the 2024 National Day Golden Week, Alipay recorded a significant increase in both China’s outbound and inbound tourism spending.
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Alipay has become the go-to app for Chinese travelers overseas. (Photo: Business Wire)
Outbound Tourism
The number of transactions made by Alipay users in overseas markets during the first four days of the holiday increased by over 60% compared to the same period in 2023. Malaysia, Korea, Thailand, Hong Kong SAR, and Singapore emerged as top destinations for Chinese tourists, showing the fastest growth in transaction numbers.
Shopping is no longer the main focus for Chinese travelers; instead, they are spending more on local experiences. Spending made via Alipay on services, transportation, entertainment, food and beverage, and retail saw the fastest growth compared to other sectors.
For instance, in terms of local transportation spending, more travelers are opting for buses, subways, and shared bikes, making small but frequent payments. Thailand, Malaysia, Hong Kong SAR, and Macao SAR saw the fastest growth in transportation transactions on Alipay.
Every Golden Week, Alipay, an Alipay+ partner wallet, collaborates with global merchants and overseas tourism boards to provide enticing discounts. During this holiday, Chinese tourists heading to Japan and Korea claimed the most coupons.
Additionally, the all-in-one discount packages for dining, entertainment, shopping, and transport, launched by overseas tourism boards in partnership with Alipay, have become highly popular among Chinese tourists. For instance, the Passion Made Possible e-Card by the Singapore Tourism Board saw a ninefold increase in purchases, while the Amazing Thailand e-Card, endorsed by the Tourism Authority of Thailand, doubled in sales compared with the pre-holiday period.
The number of people using Alipay’s real-time tax refund services during this holiday increased by 130% year-on-year.
Inbound Tourism
International travelers spent 120% more year-on-year using their international card-enabled Alipay accounts at merchants across the Chinese mainland during the first four days of the National Day holiday. Travelers from more than 10 countries benefiting from China’s visa-free policy updates since 2023 spent three times more year-on-year via Alipay. The number of Chinese merchants accepting payments from foreign customers via Alipay doubled year-on-year.
Alipay’s new services, such as Alipay Tap! and its AI life assistant, Zhixiaobao, are gaining traction as well. During the holiday, consumers spent 130% more via Alipay Tap! compared to the same period in September. Users made more than 20 million interactions with Zhixiaobao to aid their travel. The daily active user number of the AI life assistant increased by 40% compared to the pre-holiday period.
In addition to using Alipay, overseas consumers can also pay with their home e-wallets across China, enabled by Alipay+. Since September 2023, the Alipay+ solutions have supported 13 leading e-wallets and payment apps in Asia to serve their roaming users across Alipay’s 80-million-strong merchant network in China, including AlipayHK (Hong Kong SAR, China), Kaspi.kz (Kazakhstan), MPay (Macao SAR, China), Touch ‘n Go eWallet (Malaysia), Hipay (Mongolia), NayaPay (Pakistan), Changi Pay (Singapore), OCBC Digital (Singapore), Kakao Pay (South Korea), Naver Pay (South Korea), Toss Pay (South Korea), TrueMoney (Thailand), GCash (The Philippines).
About Alipay
In the digital era, Alipay has evolved from a trusted payment tool to an open platform that connects businesses, institutions, service providers, and other partners with consumers. Alipay enables partners from various industries to offer safe and convenient payment options. It also enables partners to communicate and deliver different digital services to their customers in China through Alipay mini programs, lifestyle accounts and other tools. The Alipay platform has connected over 80 million businesses with more than one billion consumers.
About Alipay+
Alipay+ is a suite of cross-border mobile payment and digitalization technology solutions that help connect global merchants to consumers. Consumers enjoy seamless payment and a broad choice of deals using their preferred payment methods while travelling abroad. Small and medium-sized businesses may use Alipay+ digital tools to enhance efficiency and achieve omni-channel growth.
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