China's Golden Week 2016: Country Spends $180 Billion During National Holiday

Golden Week, a national holiday that allows those in China to take off seven consecutive days from work or school to spend time with family and to travel, has resulted in sales that totaled in the hundreds of billions.

During Golden Week (Oct. 1 through Oct. 7), Chinese consumers spent a whopping $180 billion dollars domestically, according to WWD. The sales figures represent a 10.7 percent increase from last year’s Golden Week, according to Chinese Ministry of Commerce data.

Although an estimated six million Chinese tourists traveled overseas during the week-long holiday, domestic spending was strongly encouraged.

The economy has grown 6.7 percent during the first half of the year, and domestic spending has been a goal of Beijing’s when it has come to stimulating the economy, WWD reported. In addition to the numbers from the Ministry of Commerce, an estimated spending amount of…

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