THE WHAT? China’s Hainan province reported record sales over the Lunar New Year holiday with shoppers spending some CNY2.49 billion over the 8-day break, up 60 percent yoy. Average spend stood at CNY8,358.

THE DETAILS According to a report published by Reuters, China tripled duty-free purchase limits for Hainan’s shopping centers in 2020, causing duty-free spending to increase three-fold by 2023. The entire island is expected to become duty-free by 2025.

THE WHY? A year after COVID-related restrictions were lifted, international travel remains subdued due to the high cost of flights and visa delays, Reuters reports, domestic travel is, therefore, booming.