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Sustainable Development of Holiday Economy in China Liu Yang Huazhong University of Science and Technology Ningbo Dahongying University, China Abstract As a growth point of national economy, holiday economy has stimulated the demand availably. Suffered from the influence of the global economic crisis, it is necessary to develop holiday economy to expand domestic demand effectively. The study of sustainable development of holiday economy has become increasingly important. Undoubtedly, the expansion of domestic demand will be a salvation of Chinese economy. This paper analyzes the present situation and the main problems of the holiday economy in China, and gives some suggestions on the basis of analysis. Keywords: Holiday economy; Economic crisis; Expanding domestic demand; Substitution effect Introduction Holiday economy refers to all kinds of economic behavior that related to peoples leisure consumptions on holidays. It is composed of the demand, supply and resources allocation caused by the economic behavior. Seeing from the macro view, it depends on the whole social economy development, and needs the leading of various regulation and control means. Seeing from the microcosmic view, it depends on the increasing of free time and income. It has been rising in China after the consumers’ basic survival needs are met. People are eager to raise their standards of living even further. Since China reformed to open, the holiday system changes a lot. Along with the development of China, the increase of peoples income and especially the traditional concepts of consumption suffer the impact. The new concept of consumption is accepted by people gradually. The ways of leisure and traveling entered the life of people gradually. Holidays hasten the diversification of consumption. The most direct function of this kind of development is that increased the national economic income. Holiday economy becomes a new bang and a new way to increase the national economic income. In spit