Core Viewpoint - The tourism sector in China shows significant recovery during the New Year holiday, with a notable increase in travel volume and spending compared to previous years, indicating a positive trend in consumer behavior and tourism recovery [1] Group 1: Travel Volume and Consumer Behavior - The New Year holiday this year lasted for three days, with the option to extend to eight days, leading to a substantial year-on-year increase in travel volume and an expansion of travel radius [1] - The Ministry of Culture and Tourism reported that the number of tourists and consumption levels have recovered more strongly compared to the National Day holiday in 2019 [1] Group 2: Inbound Tourism and Regional Performance - Inbound tourism remains robust, with foreign entry and exit numbers maintaining a double-digit growth rate [1] - Policy support has significantly boosted tourism numbers and spending in Hainan, reflecting a strong regional performance [1] Group 3: Retail and Consumer Spending Trends - Overall retail sales across various regions have shown moderate growth, indicating a good start to consumer spending [1] - However, there has been a slight year-on-year decline in domestic tourism per capita spending, scenic area ticket prices, and movie ticket prices, suggesting a trend towards value-oriented consumption [1]
华泰证券:元旦假期出游人次同比大幅增长且半径扩大