中信证券：新政提振职工消费，旅游景气乘势再升

Core Viewpoint - The recent policy issued by the All-China Federation of Trade Unions aims to activate the consumption potential of union members, injecting new momentum into the cultural and sports industries [1] Group 1: Policy Impact - The policy is expected to create an annual increase of 500 to 1650 billion yuan in the domestic tourism market by 2026, based on the current scale of approximately 330 million union members [1] - The policy establishes a complete consumption promotion loop through dual guarantees of funding and time, along with innovative supply and consumption scenarios [1] Group 2: Investment Opportunities - Investment focus should be on three main lines: first, scenic spots and destinations that directly benefit from the policy [1] - Second, the hotel industry that accommodates team accommodation needs [1] - Third, OTA platforms that may participate in digital platform construction and team travel products [1] Group 3: Future Expectations - The policy is seen as a good start for stimulating service consumption, with expectations for subsequent supporting measures [1]