This year's Spring Festival eight-day holiday brought the first peak of the tourism market in the Year of the Dragon, and the tourism economy got off to a good start, directly driving the capital market to be "hot and hot". On February 22, the ** price of the same trip is 18HK$76, up 3 from the day before19%, an increase of nearly 30% compared with the beginning of 2024. Since the beginning of the year, tourism stocks have continued to strengthen, including Ctrip, Tongcheng Travel, Hong Kong China Travel Service, and the share prices of A-share Zhangjiajie, Changbaishan, and Guilin Tourism have all shown a leading trend.
According to the cultural and tourism market situation of the 2024 Spring Festival holiday released by the Ministry of Culture and Tourism, the Spring Festival holiday is 8 days, and the national domestic tourism outing is 47.4 billion passengers, an increase of 19 percent over the same period in 2019 on a comparable basis0%；The total cost of domestic tourists is 63268.7 billion yuan, an increase of 7 percent over the same period in 2019 on a comparable basis7%。Tongcheng travel data shows that during the Spring Festival holiday in 2024, domestic homecoming to visit relatives and leisure and vacation travel will increase significantly, and air tickets, train tickets, and hotel bookings in popular domestic cities during the Spring Festival holiday will increase significantly year-on-year.
The tourism market continued to perform well before and after the Spring Festival, which drove the continuous general growth of Hong Kong tourism stocks. On February 14, the first trading day of the Year of the Dragon, Tongcheng Travel rose 306%, Trip.com Group rose 441%；Since the beginning of the year, Tongcheng Travel has increased by 30%, and Ctrip Group has increased by 28%.
Tongcheng Research Institute analysis believes that this year's Spring Festival ** week is "full of color", continuing the New Year's Day holiday New Year's "good start" momentum, setting a continuous good general tone for the tourism industry in the first half of the year, especially for the next spring tourism market and the "May Day" holiday is expected to be more positive, related enterprises will advance the layout of spring travel and "May Day" market. Among them, outbound tourism during this year's Spring Festival is the most prosperous Spring Festival since 2020, which will further strengthen the positive expectations of overseas destinations for the full return of Chinese tourists, and will be a strong support for the comprehensive recovery of the outbound and inbound tourism markets.
Institutions generally believe that the Spring Festival tourism data exceeded expectations, which is expected to boost tourism expectations throughout the year. Bank of China ** said in its research report that the super long Spring Festival holiday triggered a good start in the domestic cultural tourism market, and the recovery of cross-border travel accelerated under the favorable supply side, and the cultural tourism market is expected to continue to be hot throughout the year.
At present, just after the Spring Festival, Chinese tourists have begun to plan outbound travel itineraries for the May Day holiday. Tongcheng travel data shows that the number of bookings for outbound travel tickets for the May Day holiday in the week after the holiday increased by nearly 2 times compared with before the holiday, among which domestic air tickets to Thailand, South Korea, Malaysia and other outbound travel destination countries had the highest number of bookings; Shanghai, Guangzhou, Beijing, Hangzhou, and Qingdao have the highest number of bookings for May Day outbound tours. In addition, some tourists have begun to book outbound travel tickets for the Spring Festival holiday in 2025, and Shanghai tourists have the most "J people" (judgment personality in MBTI), and in the Spring Festival outbound travel ticket orders booked one year in advance, orders from Shanghai account for nearly 7 percent, and air tickets from Shanghai to Spain, Italy, France, Iceland, and Switzerland long-term outbound travel destination countries have been sold.