Tourism in China: it has recovered to the same period]7% as before the epidemic, and the Winter Olympics has warmed up ice and snow tourism. According to the calculation of the data center of the Ministry of culture and tourism, during the Spring Festival holiday in 2022, 250 million people traveled in China, a decrease of 2.0% and a return to 73.9% in the same period in 19 years; China’s tourism revenue reached 289.2 billion yuan, a decrease of 3.9% over the same period, returning to 56.3% in the same period in 19 years. This year’s spring festival tourism is less than that in the same period last year, mainly because of the dot like outbreak of the epidemic before the festival and the strengthening of control in some areas. The success of the Beijing Winter Olympic Games has set off a boom in ice and snow tourism, which has continued to heat up the ice and snow tourism market in Northeast China. According to the prediction of the Ministry of transport, during the Spring Festival in 2022, 130 million passengers will be sent by railways, highways, waterways and civil aviation, an increase of 31.7% and a return to 30.8% in 19 years.
Natural scenic spot: Sanya scenic spot performs well, and Mount Emei recovers well. During the Spring Festival holiday in 2022, Mount Huangshan received 51000 tourists, up from 40.8% in 19 years. Mount Emei received 201000 tourists, an increase of 127.9% and restored to 90.1% in 19 years. Nanshan received 234000 tourists, an increase of 32.4% and restored to 77.4% in 19 years. Sanya has received 217000 tourists, an increase of 48.7% and restored to 73.8% in 19 years. Atlantis received 73000 tourists, an increase of 23.0% and recovered to 83.0% in 19 years. Haichang never night city received 125000 tourists, an increase of 1.4% and 5.1% over 19 years.
Tax exemption: the tax exemption of Hainan outlying islands maintained a high boom. During the Spring Festival holiday of 22 years, 10 duty-free shops on outlying islands in Hainan Province launched promotional activities to attract many tourists. From January 30 to February 5, 22, the total sales volume of 10 duty-free shops on outlying islands in Hainan Province was 1.98 billion yuan, an increase of 144.0% at the same time. Among them, the tax-free sales volume was 1.82 billion yuan, an increase of 153.0% at the same time; The number of duty-free shoppers was 278000, an increase of 128.0%.
Outbound tourism: Mainland tourism to Macao has warmed up. From January 31 to February 4, the number of mainland visitors to Australia reached 71000, an increase of 24.8% over the same period last year, which was warmer than the same period last year, mainly due to the loose epidemic prevention policy.
Investment suggestion: the overall level of Chinese tourism during the Spring Festival holiday is slightly lower than that in the same period last year. Compared with the same period in 19 years, the number of tourists has recovered more than 70%, and the tourism revenue has recovered less than 60%. Among them, the tax exemption performance of outlying islands is beautiful, and the sales and shopping trips have increased significantly; There are great differences in the restoration of natural scenic spots, among which Mount Emei has recovered well and Sanya scenic spot has performed beautifully; Outbound tourism to Macao has warmed up. It is suggested to focus on the logic of epidemic repair: in the duty-free section, China’s epidemic situation is improving and new stores are put into use, driving the rise of duty-free volume and price on Hainan outlying islands; In the hotel sector, the supply and demand pattern has improved significantly, the chain rate has increased, the hotel group has accelerated the integration of monomers, and the improvement of China’s epidemic situation will contribute to the performance flexibility; In the section of the scenic spot, the state of passenger flow suppressed by the epidemic is expected to be improved, resulting in the gradual recovery of performance; In the outbound tourism section, after the gradual liberalization of entry and exit, outbound tourism service providers with strong control over route and destination resources are expected to benefit first. It is suggested to focus on: hotels ( Btg Hotels (Group) Co.Ltd(600258) , Shanghai Jin Jiang International Hotels Co.Ltd(600754) ), scenic spots ( Songcheng Performance Development Co.Ltd(300144) ), outbound tourism (Caesar Tourism), duty-free ( China Tourism Group Duty Free Corporation Limited(601888) ).
Risk tip: the impact of repeated epidemic on the tourism industry and the impact of macro-economy on the tourism industry.
