Hainan's Official Portal for Global Investors
At the beginning of 2022, Hainan's economy has achieved a good start and continued its positive momentum during the 14th Five-Year Plan period (2021-25). The province's investment attraction has maintained rapid growth, its project construction has accelerated, and its consumption market has grown.
In January, the province's total investment in fixed assets was 22.8 billion yuan ($13.45 million), a year-on-year increase of 12.4 percent, of which the investment in non-real estate projects was 14.2 billion yuan, accounting for over 60 percent of the total. During the Spring Festival holiday, work on 70 provincial key projects and 72 municipal-level or county-level key projects in the province remained open.
At the beginning of the year, Hainan's economy was driven by holiday consumption. With the help of online travel platforms, media outlets, travel companies, major duty-free shops, banks, and airlines, Hainan has driven the expansion of tourism consumption and offshore duty-free consumption during the New Year's holiday and Spring Festival holiday.
During this year's Spring Festival holiday, Hainan received 5.4 million tourists, a year-on-year increase of 17.9 percent, and generated 7.53 billion yuan in tourism revenue, a year-on-year increase of 29.3 percent. In addition, Hainan's duty-free sales have also achieved a good start this year and will strive to achieve a new breakthrough in the sales amount throughout the year by creating a 100-billion-yuan-level duty-free consumption market in the province.
