Reporters learned from the 2020 Tibet Autonomous Region Economic Operation Press Conference that consumption has become a strong driving force for Tibet’s economic development. The urban and rural consumer market in Tibet maintained rapid growth. The total retail sales of consumer goods for the year reached 74.578 billion yuan (11.567 US dollars), an increase of 56.3 percent over 2015 and an average annual growth rate of 9.3 percent.
The increase in the per capita disposable income of urban and rural residents is the driving force for consumption growth. In 2020, the per capita disposable income of Tibetan residents was 21,744 yuan (3372 US dollars), an increase of 11.5 percent over the previous year. Of this, the per capita disposable income of urban residents was 41,156 yuan (6383 US dollars), an increase of 10 percent; the per capita disposable income of rural residents was 14,598 yuan (2264 US dollars), an increase of 12.7 percent.
The deputy secretary-general of the Tibet Autonomous Region Government, Tenzin Lunzhu, said that the leading role of consumption has become more and more prominent in driving economic growth. Tibet will continue to expand domestic demand in 2021. Through the issuance of consumer vouchers, promoting bulk consumer goods, encouraging the development of the night economy and the sharing economy, Tibet will strive to increase retail sales of consumer goods of about 10 percent.