Core Viewpoint - Tongcheng Travel (00780) shares rose over 4% following the announcement of a visa-free agreement between China and Singapore, effective from February 9, 2024, which is expected to boost travel demand and online search activity for Singapore-related travel on the platform [1] Company Summary - As of the report, Tongcheng Travel's stock price increased by 4.23%, reaching HKD 16.74, with a trading volume of HKD 33.59 million [1] - The platform experienced a 340% increase in search interest for Singapore-related travel within half an hour of the announcement, and flight searches for the Spring Festival period surged over five times compared to the previous day [1] Industry Summary - According to招商证券, the domestic OTA (Online Travel Agency) industry is benefiting from an increase in online penetration, with market share steadily growing at an annual rate of approximately 3-4% [1] - High-tier cities have surpassed a 50% online penetration rate, nearing saturation, while lower-tier cities currently stand at 20%, indicating significant growth potential [1] - The Southeast Asian market is expected to provide substantial opportunities for OTA companies, with predictions that the international tourism market will recover in the short term, and the GMV for Southeast Asian tourism is expected to return to pre-pandemic levels next year [1] - In the medium to long term, countries like Indonesia and Vietnam show OTA usage rates of approximately 40%-60%, suggesting further room for growth in the region [1]
港股异动 | 同程旅行(00780)现涨超4% 新加坡开启免签 出境游爆火有望带动OTA扩容