Tourism Surge Boosts Shanghai Retail Sales

Shanghai's consumer market saw a significant boost in 2025, with retail sales climbing 4.6 percent year-on-year to reach over 1.6 trillion yuan (US$238.4 billion). This growth outpaced the national average by nearly 1 percent point.

The city's retail success was largely fueled by a booming tourism sector, highlighted by a 40 percent spike in international visitors, totaling 9.36 million people. Key drivers for this influx included favorable government initiatives such as the 14-day visa-free entry policy for most foreign nationals and efficient VAT refund programs, both of which encouraged higher spending across the city.