Off-peak travel booms in China amid post-holiday price plunge

A growing number of people in China are opting for off-peak travel due to fewer crowds and the decline in flight and hotel prices following the National Day and Mid-Autumn Festival holiday, leading to a significant surge in customer inquiries in many travel agencies.

A travel agency in Guangzhou, capital of south China's Guangdong Province, was bustling with customers, many of whom were seniors. They were interested in a range of travel options, from tours within Guangdong to long-distance domestic and outbound trips.

"We want to go to Henan to visit Laojun Mountain and the Red Flag Canal. Our group of more than a dozen classmates, all retired, will be traveling together. Since tourist spots are crowded with students during the summer and winter holidays, we'd like to leave those periods for them. We senior travelers are better off taking our trips during the off-peak season," said Mrs. Huang, a local resident.

"The desert poplar forest in Xinjiang and Ejina Banner, and regions like Beijing, Sichuan, Guizhou and Yunnan are all top choices for off-peak travel. For example, a 10-day tour in Xinjiang that cost about 12,000 yuan (around 1,684.7 U.S. dollars) during the National Day holiday can be booked for just over 5,000 yuan in November, a reduction of over 50 percent," said Guan Jian, brand manager of the travel agency.

Besides silver-haired travelers, some office workers enjoying their annual leave were among the off-peak tour groups at the departure hall of Shenzhen Bao'an International Airport.

"We booked our tickets in August. We will depart from Hong Kong to Shenzhen and then take a flight to Beijing. From Beijing, we will catch another flight to Russia. It's a good time for travel now as the weather is pleasant and the border crossings are now very convenient to get through quickly," said a tourist from Hong Kong.

"My last trip was in July. At that time, the round-trip ticket price between Shenzhen and Xi'an exceeded 2,000 yuan. Now, the price is just over 1,000 yuan," said a tourist from northwest China's Shaanxi Province.

"For flights departing between now and Oct 31, the average ticket price has dropped by 36 percent compared with that in the National Day holiday, a decrease of nearly 40 percent. Meanwhile, the average price for chain hotels has also fallen by nearly 30 percent from the holiday period. Meanwhile, the average price for international flights and hotels have each decreased by about 20 percent compared with the National Day holiday levels," said Shi Ke, researcher at the Big Data Research Institute of the online travel service provider Qunar.

Off-peak travel booms in China amid post-holiday price plunge

Japan's reliance on U.S. economic policy is allowing foreign funds to acquire Japanese assets at bargain prices, according to Japanese economist Kazuhide Uekusa.

He warned that the government's economic and defense strategies prioritize foreign capital and political profits over public welfare, failing to bring true prosperity to ordinary citizens.

The Bank of Japan (BOJ) on Friday raised its policy interest rate by 0.25 percentage points to 1.25 percent, the highest in about 31 years, following a two-day board meeting.

According to Uekusa, the timing of the shift aligns perfectly with the interests of large American funds.

"The Takaichi Cabinet has been reluctant to raise interest rates, thus allowing the yen to continue to depreciate. I think this is actually equivalent to helping foreign capital purchase Japanese assets at a low price. However, U.S. Treasury Secretary Scott Bessent has recently made a clear adjustment to the policy direction of the U.S. dollar against the Japanese yen, promoting the appreciation of the Japanese yen. The reason is that some large funds in the United States have basically completed their investment layout in Japanese assets," said Uekusa.

Uekusa also said Japan cannot attempt to revitalize its economy by expanding military spending and supporting the defense industry, and such a military buildup strategy is unlikely to bring about true prosperity and stability.

"I think it is true that the Japanese economy has been stagnant for a long time. However, to expand military spending in an attempt to revitalize the economy is, in my opinion, an extremely foolish and even crazy move. To achieve peace and stability in Japan, the foundation should be to establish friendly relations with neighboring countries rather than military expansion. The reason why the Japanese government attaches so much importance to the military industry is that it can generate huge profits, and a part of these profits may flow back to political parties or political figures through various means. I don't think this is at all for the benefit of the people," he said.

Japanese economist criticizes gov't policies for enabling cheap asset sales to foreign funds