Recently, the State Council officially issued the 14th five year plan for tourism development (hereinafter referred to as the plan). During the 14th Five Year Plan period, China will fully enter the era of mass tourism. The rules adhere to the five basic principles and establish seven important tasks. In the new stage, the main line is to promote the high-quality development of tourism and comply with the changes of diversified consumption demand, Build a new pattern of coordinated development of China’s international double cycle with China’s big cycle as the main body. By 2025, tourism development will continue to improve, the tourism system will be more sound, Chinese tourism will flourish, inbound and outbound tourism will advance in an orderly manner, the in-depth integration of culture and tourism will continue to deepen, and significant progress will be made in the construction of a tourism power. It is estimated that by 2035, the comprehensive strength of China’s tourism industry will be greatly improved and China will basically become a world tourism power.
Core content
Adhere to the development of innovative tourism and speed up the construction of cultural tourism intelligence. The rules specify that at present, in combination with the needs of epidemic prevention and control, accelerate the development of smart tourism industry, develop immersive interactive experience services, accelerate the professional and characteristic development of travel agencies, support tourism science and technology innovation projects, support the development of innovative tourism talent training plan, and comprehensively accelerate the intelligent construction of cultural tourism industry.
Integrate resource elements and optimize the layout of tourism destinations. The rules propose to reconstruct the tourism spatial layout, coordinate the development of ecotourism, build a tourism hub city, develop key tourism cities and characteristic tourism destinations, and build a new tourism spatial pattern of “point radiation, belt series and network coordination”. The rules advocate that all regions give full play to their advantages, develop historical and cultural, hot spring, health and other characteristic tourism destinations in Beijing, Tianjin, Hebei, Yangtze River Delta, Dawan District, central and western regions and Northeast China according to local conditions, and speed up the construction of Hainan international tourism center and Pingtan international tourism island.
Improve the supply system and expand tourism consumption. The rules propose to improve the modern tourism system, accelerate the structural reform of the supply side, improve the supply system, and build a number of national and world-class tourist resorts, leisure cities and blocks. Comply with the changes of tourists’ needs, strengthen the integration of culture and tourism, promote the development of “tourism +” and “+ tourism” in combination with the industrial chain in the physical field, and vigorously promote the development of multi format products such as red tourism, rural tourism, ice and snow tourism, self driving tourism, research and study tourism and cruise tourism. Comply with the diversified and personalized consumption needs of tourists, actively cultivate new forms of tourism consumption, broaden tourism consumption scenes, and actively develop shared tourism and night consumption. The income generation of cultural and tourism enterprises is expected to be further improved.
The coordinated development of China’s outbound tourism is conducive to the reappearance of tax exemption. The rules pointed out that under the double complex situation of the international situation and covid-19 epidemic situation, it is necessary to rely on the advantages of China’s strong tourism market and coordinate the coordinated development of China’s foreign tourism market; Promote the establishment of a national tourism promotion system, constantly improve the national tourism image, enrich the supply of inbound tourism products, improve the service quality and convenience, and enhance the attraction of Chinese tourism brands; Steadily promote the development of outbound tourism and deepen international and regional cooperation between China, Hong Kong, Macao and Taiwan. In addition, the rules specify the need to improve the tax exemption policy system and promote the healthy and orderly development of China’s tax exemption industry.
Investment advice
With the introduction of the plan, the tourism industry reaps the policy support for long-term development. China’s international tourism, tourism retail, destination construction, intelligent innovation, leisure linkage services and product experience innovation are expected to maintain a benign growth momentum and maintain the industry’s stronger than the market rating. We continue to recommend China Tourism Group Duty Free Corporation Limited(601888) as the leading tax-free enterprise, and Btg Hotels (Group) Co.Ltd(600258) , Shanghai Jin Jiang International Hotels Co.Ltd(600754) , China Cyts Tours Holding Co.Ltd(600138) , Songcheng Performance Development Co.Ltd(300144) , Jiangsu Tianmu Lake Tourism Co.Ltd(603136) , Lijiang tourism, Utour Group Co.Ltd(002707) , Guangzhou Lingnan Group Holdings Company Limited(000524) and other hotels, scenic spots and tourism comprehensive service targets in the logic of cultural tourism recovery; It is suggested to pay attention to enterprises that are good for the release of ice and snow tourism demand. Main risks of rating
Repeated outbreaks at home and abroad; The implementation of the plan is not as expected; The industry recovery was less than expected
