ALIPAY
Alipay's data indicates a significant uptick in both outbound and inbound tourism spending in China during the 2024 Labor Day holiday.
This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20240505795104/en/
The salesperson welcomes Chinese travelers to use Alipay for payment at Designer Outlet Roermond in the Netherlands (Photo: Business Wire)
Outbound Tourism
Transactions by Alipay users in overseas markets during the initial two days of the holiday saw a substantial 77% increase from the corresponding period in 2023, with total spending rising by 10% year-on-year.
For the 2024 Labor Day holiday, Alipay, an Alipay+ partner wallet, has joined hands with global merchants to launch extensive campaigns aimed at enticing Chinese tourists. Enabled by Alipay+, a suite of cross-border digital payment and digitalization technology solutions connecting global brands with mobile-savvy consumers worldwide, Chinese travelers can seamlessly pay for a wide array of services including shopping, dining, and entertainment at more than 8 million merchants across over 70 countries and regions. This convenience is all accessible through the familiar interface of their trusted Alipay app, eliminating the need to carry cash and the hassle of currency exchange.
Short-haul destinations across Asia continued to attract huge interest. Southeast Asia saw a 52% increase in spending by Alipay users year on year. Notably, Thailand emerged as the top destination in the region in terms of Alipay spending, while Malaysia showed the most impressive 171% year-on-year increase. In addition to these popular short-haul trips, Chinese travelers are increasingly using the extended five-day holiday to venture further afield. Long-haul destinations have gained traction, with North America, Europe, and Australia becoming the preferred choices for more exploratory and extended travels among Alipay users.
Specifically, Hong Kong SAR, Japan, Macao SAR, Korea, the United States, and Thailand stand out as top destinations for Chinese travelers, drawing the most Alipay users. In April, Alipay+ facilitated users of 14 leading overseas mobile wallets and bank apps from 9 countries and regions to make seamless payment in Hong Kong from their home apps, enhancing the travel experience and contributing to the region's tourism surge. Japan has risen to prominence as an enticing and budget-friendly destination for Chinese tourists, largely attributable to the yen's depreciation. This economic advantage has been reflected in a substantial surge in Alipay spending within the country, which saw an impressive year-on-year growth of 164%.
Traveling with a lighter carbon footprint has become a new fashion. Alipay has been adding more ways for its users to get around overseas, like ride-hailing and public transport. In Hong Kong, the number of transactions for public transport increased by 63% year-on-year.
Inbound Tourism
Over the Labor Day holiday, international travelers spent 700% more year-on-year using their international card-enabled Alipay accounts at merchants across the Chinese mainland. The number of visitors using Alipay for payment from the 15 countries1 benefiting from China's visa-free policy updates since mid-2023 increased by over 4 times compared to last year.
In April, Huangshan Tourism Group partnered with Alipay to launch “International Visitor Friendly Scenic Spot” ahead of the Labor Day holiday. The initiative helps global travelers visiting Huangshan enjoy convenient payment options, including card, mobile payment and cash, as well as claiming tailored digital red packets for shopping discounts and check travel guide and tips in 16 languages.
In addition to using Alipay, overseas consumers can also pay with their home e-wallets across China, enabled by Alipay+. Since September 2023, the Alipay+ solutions have supported 12 leading e-wallets and payment apps in Asia to serve their roaming users across Alipay’s 80-million-strong merchant network in China, including AlipayHK (Hong Kong SAR, China), Kaspi.kz (Kazakhstan), MPay (Macao SAR, China), Touch 'n Go eWallet (Malaysia), Hipay (Mongolia), NayaPay (Pakistan), Changi Pay (Singapore), OCBC Digital (Singapore), Kakao Pay (South Korea), Naver Pay (South Korea), Toss Pay (South Korea), TrueMoney (Thailand).
About Alipay
In the digital era, Alipay has evolved from a trusted payment tool to an open platform that connects businesses, institutions, service providers, and other partners with consumers. Alipay enables partners from various industries to offer safe and convenient payment options. It also enables partners to communicate and deliver different digital services to their customers in China through Alipay mini programs, lifestyle accounts and other tools. The Alipay platform has connected over 80 million businesses with more than one billion consumers.
About Alipay+
Alipay+ is a suite of cross-border mobile payment and digitalization technology solutions that help connect global merchants to consumers. Consumers enjoy seamless payment and a broad choice of deals using their preferred payment methods while travelling abroad. Small and medium-sized businesses may use Alipay+ digital tools to enhance efficiency and achieve omni-channel growth.
___________________________
1 The 15 countries include France, Germany, Italy, the Netherlands, Spain, Malaysia, Switzerland, Ireland, Hungary, Austria, Belgium, Luxembourg, Thailand, Singapore, and Brunei.
To view this piece of content from cts.businesswire.com, please give your consent at the top of this page.
View source version on businesswire.com: https://www.businesswire.com/news/home/20240505795104/en/
About Business Wire
Subscribe to releases from Business Wire
Subscribe to all the latest releases from Business Wire by registering your e-mail address below. You can unsubscribe at any time.
Latest releases from Business Wire
BitGo sikrer OCC-godkendelse til konvertering til føderalt chartret National Trust Bank13.12.2025 02:12:00 CET | Pressemeddelelse
Sætter ny standard for institutionel digital aktivinfrastruktur med samlet føderal tilsyn BitGo Holdings, Inc. (“BitGo”), virksomheden inden for digital aktivinfrastruktur, annoncerede i dag, at Office of the Comptroller of the Currency (“OCC”) godkendte virksomhedens ansøgning om at konvertere BitGo Trust Company, Inc., et trustselskab registreret i South Dakota, til en nationalbank ved navn BitGo Bank & Trust, National Association (N.A.). Med dagens OCC-godkendelse af konverteringen fungerer BitGos datterselskab af Trust Company nu som BitGo Bank & Trust, National Association (N.A.). BitGo Bank & Trust, N.A. vil operere under et enkelt, ensartet føderalt tilsynssystem, der gør det muligt at levere den klarhed, styring og reguleringssikkerhed, som institutioner forventer af et føderalt reguleret fiduciært selskab. Denne godkendelse styrker BitGos position som et institutionelt fundament for det moderne finansielle system, der kombinerer tilsyn på bankniveau med den sikkerhed, complian
FIA, Formula 1 Group and All 11 Race Teams Officially Sign the Ninth Concorde Agreement, Securing Strength and Stability for the Sport in Pivotal Five-Year Agreement12.12.2025 17:10:00 CET | Press release
Multi-year Concorde Governance Agreement signed by the FIA, Formula 1 Group and all 11 teams, securing the World Championship through 2030 Paves the way for a more professionalised sport and represents a new era of collaboration between the FIA and Formula 1 Group Long-term commitment enhances sporting reliability, global reach and stability for teams, fans and broadcasters The Fédération Internationale de l'Automobile (FIA), the global governing body for motor sport and the federation for mobility organisations worldwide, and Formula 1 Group, the Commercial Rights Holder, have today announced the signing of the Concorde Governance Agreement, a crucial contract defining the regulatory framework and governance terms of the FIA Formula One World Championship until 2030. This follows the announcement in March that the 2026 Commercial Concorde Agreement had been signed by all the teams and Formula 1 Group. Together, these agreements constitute the ninth Concorde Agreement, representing a m
Anabranch Capital Management, LP supports relisting of SmartCraft ASA to Nasdaq Stockholm12.12.2025 16:26:00 CET | Press release
Reference is made to the stock exchange announcement by SmartCraft ASA ("SmartCraft" or the "Company") on 1 December 2025 regarding the contemplated relisting of SmartCraft from Euronext Oslo Børs to Nasdaq Stockholm (the "Relisting") and the announcement of a cross-border merger to effect the Relisting. Funds managed by Anabranch Capital Management, LP (“Anabranch”) intend to vote in favour of the merger plan resolved by the boards of SmartCraft and its Swedish wholly owned subsidiary, SmartCraft Group AB (publ), to effect the Relisting at the Company's extraordinary general meeting planned for January 2025 (the "EGM"). Anabranch intends to vote with all Anabranch shares held at the Record Date for the EGM in favour of the relisting effected by the merger plan. Funds managed by Anabranch currently hold approximately 15.9 million shares in SmartCraft. Disclaimer: The views expressed are those of the authors and Anabranch Capital Management, LP as of the date referenced and are subject
Mohammed Ben Sulayem Re-Elected as President of the FIA12.12.2025 15:49:00 CET | Press release
The Fédération Internationale de l’Automobile (FIA), the global governing body for motor sport and the federation for mobility organisations worldwide, today confirms that Mohammed Ben Sulayem has been re-elected as President of the FIA, following the election of his Presidential List by the General Assembly in Tashkent, Republic of Uzbekistan. This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20251212213181/en/ President Mohammed Ben Sulayem now begins his second four-year term, having overseen a period of significant renewal and stabilisation for the organisation since his initial election in 2021. Over the past four years, the FIA has undergone a wide-ranging transformation, improving governance, operations and restoring the financial health of the federation. These changes have strengthened the FIA’s position as the world’s governing body for motorsport and the leading authority on safe, sustainable, and affordable mobility.
Perma-Pipe International Holdings, Inc. Announces Third Quarter 2025 Financial Results12.12.2025 15:00:00 CET | Press release
Net sales of $61.1 million for the quarter and $155.8 million year-to-date.Income before income taxes of $10.9 million for the quarter and $21.1 million year-to-date.Diluted earnings per share of $0.77 for the quarter and $1.49 year-to-date.Backlog of $148.9 million at October 31, 2025, up from $138.1 million at January 31, 2025. Perma-Pipe International Holdings, Inc. (NASDAQ: PPIH) announced today financial results for the third quarter ended October 31, 2025. “For the three months ended October 31, 2025, net sales were $61.1 million, an increase of $19.5 million, or 46.9%, compared to $41.6 million in the same quarter of the prior year. Growth was driven by higher sales volumes in both the Middle East and North America. Gross profit was $21.0 million, up $6.9 million from $14.1 million last year, reflecting higher activity levels. Selling, general and administrative expenses increased to $8.3 million from $7.3 million, primarily due to higher payroll and professional fees, including
In our pressroom you can read all our latest releases, find our press contacts, images, documents and other relevant information about us.
Visit our pressroom