端午消费数据点评：端午旅游增速放缓

Investment Rating - The industry investment rating is "Market Standard" indicating that the industry index is expected to perform within -10% to 10% relative to the CSI 300 index over the next six months [5]. Core Insights - The tourism sector is experiencing a slowdown in both visitor numbers and revenue growth, with domestic tourism during the Dragon Boat Festival seeing 119 million trips, a year-on-year increase of 5.7%, and tourism revenue reaching 42.73 billion yuan, up 5.9% year-on-year [4]. - Short-distance travel is the main trend, with nearly 50% of travelers opting for nearby destinations. Family trips, particularly for children, are a significant driver of travel during this period, with 90% of the top 50 scenic spots being family-oriented [4]. - The inbound tourism market is showing high growth, with 590.7 million people entering and exiting the country during the holiday, a 2.7% increase year-on-year, and 231,000 foreign visitors entering under visa-free policies, up 59.4% [4]. - Scenic spots like Changbai Mountain maintained visitor numbers but saw a 23.94% increase in revenue. Xiangyuan Cultural Tourism reported a 29.96% increase in visitors and a 25.27% increase in revenue during the holiday [4]. - Transportation sectors, particularly rail and road, showed higher growth rates, with cross-regional travel exceeding 653 million trips, a 2.5% increase year-on-year [4]. - Future consumption growth is anticipated due to new consumption trends, supportive policies, and the ongoing recovery of the tourism market, with a focus on OTA platforms and related sectors [4].