In China, where strict travel bans were recently lifted to contain the coronavirus pandemic, people are eager to travel and afford some luxuries, according to a survey conducted by Morgan Stanley and published by the US news network CNBC. The relevant findings are based on a survey conducted from January 29 to 31 of about 2,000 consumers in China’s largest cities in 19 provinces. In September, UBS analyst Xin Chen and a group of colleagues said they expected people in China to pay well for hotels once the coronavirus is over.

The survey points to growing demand for high-end and luxury hotels in China after the country lifted domestic travel restrictions and passed a huge wave of coronavirus cases. “Consumers appear to be more likely to increase hotel spending when planning their trips compared to before the virus, with 20% citing it as their biggest travel spend compared to 17% in 2017 and 2020,” Morgan analysts say. Stanley. In addition, according to the findings, “37% of consumers prefer hotels with more stars compared to 18% in 2020, when wealthier consumers with higher incomes seem even more willing to spend money on staying in luxury hotels (47% vs. 31% in 2020). % in 2020). 2020). References to budget and mid-range hotels have declined globally.” At the same time, it’s worth noting that people’s willingness to save has jumped to its highest level during the pandemic, so there is affordable income to spend. Retail sales lagged behind the recovery on the back of general economic growth in China and uncertainty about future earnings.

What’s more, analysts at Morgan Stanley note that the study found an equally subdued appetite for shopping, despite being the number one spend for travelers. The traveler’s shopping budget was 9,405 yuan ($1,387), slightly higher than in 2020 but still well below the 2017 level of 13,782 yuan, according to surveys from recent years. “Most consumers expect total spending to be flat over the next six months (70% vs. 73% last month),” the report says. However, 24% of respondents said they planned to spend more on “improving their lifestyle,” an attitude that typically results in higher quality products. The report notes that this figure is up from 20% a month ago, adding: “The increase in consumers looking to improve their lifestyle through higher spending is universal.”