文旅部统筹开展春节文旅活动，“非遗游”或成新潮流

Investment Rating - The report maintains an "Overweight" rating for the industry, indicating expected growth above the performance of the CSI 300 index over the next six months [1][42]. Core Insights - The successful inclusion of the Spring Festival in the UNESCO Intangible Cultural Heritage list is expected to drive a new trend in the tourism market, enhancing consumer willingness to travel during the holiday season [25][26]. - The report anticipates a significant increase in domestic and inbound tourism, with a notable rise in interest for "intangible cultural heritage tours" and other unique travel experiences [27][28]. - The film industry is projected to recover with the upcoming 2025 Spring Festival box office expected to perform well, driven by a stronger supply of quality films [29][32]. Summary by Sections Market Review - The social services sector index experienced a weekly decline of 3.38%, ranking 28th out of 31 sectors [12][19]. - Sub-sector performance showed significant declines, particularly in the hotel and restaurant sector, which fell by 12.98% [20][21]. Investment Themes - Theme One: The successful heritage listing is expected to boost tourism consumption, with various local governments likely to introduce consumer stimulus policies [5][28]. - Theme Two: The film market is anticipated to improve in 2025, with a projected box office of over 400 billion yuan, supported by a stronger lineup of films [29][31]. Industry News Dynamics - The report highlights the establishment of a tourism community in Zhangjiajie, aiming to enhance regional tourism collaboration and brand development [33][34]. - The report also notes the rapid growth of inbound tourism, particularly from neighboring countries, reflecting China's increasing international tourism appeal [26][39].