China’s hotels are taking a hit, as a struggling economy hurts domestic spending.
China’s economy has been in decline for the past 4 years, and now budget hotels are having to slash their prices despite being full.
Asia business correspondent Peter Lewis told Heather duPlessis-Allan that this is partly due to unemployment rates, with 1 in 5 Chinese people under the age of 24 being unemployed.
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Heather du Plessis-Allan Drive