Tourists aren't going back to China – and that's another problem for its stuttering economy

Fri, 08/04/2023 - 05:22

Tourists enjoy the scenery at Qingzhou Ancient City scenic spot in East China's Shandong province, July 14, 2023. Recently, the Ministry of Culture and Tourism released domestic tourism data for the first half of 2023. — Tourists at Qingzhou Ancient City in Shandong province.
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China's economic growth has disappointed amid a depressed housing market and high youth unemployment.
Just 52,000 tourists on trips organized by travel agents visited China in the first quarter, per the WSJ.
A struggling tourism sector will not help China's economy shake off its slowdown.

The world's second-largest economy is spluttering. China's been facing a slew of headwinds this year, such as a depressed housing market, rocketing youth unemployment, and widespread deflation fears.

Growth for the second quarter came in at 6.3%, falling short of analysts' forecasts.