Event comments
2022 Spring Festival Golden Week travel data review. During the 7-day Spring Festival holiday in 2022, 251 million people traveled in China, a year-on-year decrease of 2%, and restored to 73.9% in the same period of the Spring Festival holiday in 2019 according to comparable standards; China’s tourism revenue reached 289.198 billion yuan, a year-on-year decrease of 3.9%, and recovered to 56.3% during the Spring Festival holiday in 2019. From 2021 to now, during the small and long holidays of Tomb Sweeping Day, may day, Dragon Boat Festival, Mid Autumn Festival, national day and Spring Festival, the number of tourist trips in China has returned to the normal level before the epidemic by 94.5% / 103.2% / 98.7% / 87.2% / 70.1% / 73.9% respectively, and the total tourism revenue has returned to 56.7% / 77.0% / 74.8% / 78.6% / 59.9% / 56.3% respectively.
Except for medium and high-risk areas and Winter Olympic venues, the return policy for the Spring Festival in 2022 is flexible. During the seven-day Spring Festival holiday, 130 million passengers were sent by railways, highways, waterways and civil aviation, an increase of 31.7% over the same period in 2021 and a decrease of 69.2% over the same period in 2019. Among them, 30.297 million passengers were sent by railway, 91.27 million by road, 3.046 million by water and 5.009 million by civil aviation. The public travel structure has been continuously adjusted, and private car travel has gradually increased. During the Spring Festival holiday, the total traffic volume of expressways in China was 23.94 million, an increase of about 9% over the same period in 2021 and a decrease of about 13% over the same period in 2019.
Peripheral tourism and ice and snow tourism lead the spring festival tourism market. During the Spring Festival holiday in 2022, the proportion of intra provincial tourism and inter provincial tourism is 78.3% and 21.7% respectively. Short distance tourism continues to lead China’s tourism market. Superimposed with the impact of reverse family visits, short-distance leisure activities such as parent-child tourism, theme park tourism and ice and snow tourism have increased significantly. The quality of short-range leisure activities such as appointment guide, surrounding exquisite camping, car rental and self driving local travel, exquisite travel photography and so on are improved and upgraded, and the quality and personalized products are more in line with the needs of Spring Festival travel.
Investment suggestion: from the repeated view of China’s regional epidemic, it is suggested to grasp the phased market. China’s long-term trend will continue to be firm in clearing cases, strictly preventing overseas imports, accelerating vaccination and research and development of multiple vaccines, and realizing mass immunization as soon as possible. During the Spring Festival, the Winter Olympic Games were held in Zhangjiakou, Beijing. The government continued to take strict covid-19 prevention and control measures, and the restrictions on international flights were extended to at least the first half of this year. China’s tourism industry continued to circulate internally, and the flow of outbound tourists continued to be transformed into Chinese tourism. China’s tourism industry does not change the recovery trend, and the recovery process is repeatedly disturbed with the possible local epidemic. During this period, with theme investment and hot investment hotspots, the fundamentals of Companies in the industry showed continuous repair. It is suggested to pay attention to: China Tourism Group Duty Free Corporation Limited(601888) , Shanghai Jin Jiang International Hotels Co.Ltd(600754) , Btg Hotels (Group) Co.Ltd(600258) , Jiangsu Tianmu Lake Tourism Co.Ltd(603136) , Songcheng Performance Development Co.Ltd(300144) , China Cyts Tours Holding Co.Ltd(600138) . There are risks
The risk of spreading the epidemic; The impact of the epidemic on the tourism industry significantly exceeded the expected risk.
