2026年元旦旅游数据点评：元旦出行热度持续高增，海南免税销售实现开门红

Investment Rating - The industry investment rating is "Outperform the Market," indicating that the industry index is expected to perform better than the benchmark index over the next 6-12 months [22]. Core Insights - The domestic tourism market remains robust, with a significant increase in both domestic and outbound travel during the New Year holiday. The upcoming Spring Festival, which has a longer holiday duration, is expected to further enhance travel activity [3][15]. - The report highlights strong performance in the duty-free market, particularly in Hainan, driven by favorable policies and promotional activities, leading to a substantial increase in sales [11][15]. - Key recommended companies include Lingnan Holdings, Tongcheng Travel, Changbai Mountain, Huangshan Tourism, and China Duty Free Group, which are expected to benefit from the recovery in business travel and increased market share post-pandemic [3][15]. Summary by Sections Domestic Travel - During the New Year holiday, 142 million domestic trips were made, a 5.2% increase compared to the previous year, with total spending reaching 84.789 billion yuan, up 6.3% [6][8]. - The average spending per trip was 597.11 yuan, reflecting a 1.1% increase year-on-year [6]. - The total inter-regional passenger flow was estimated at 590 million, with a daily average of 19.8 million, marking a 19.5% year-on-year increase [7][8]. Duty-Free Market - Hainan received 2.1716 million tourists during the New Year holiday, a 25.2% increase year-on-year, with total tourism spending of 3.136 billion yuan, up 28.9% [11]. - Duty-free sales saw a remarkable performance, with 442,000 items sold, a 52.4% increase, and shopping expenditure reaching 712 million yuan, up 128.9% year-on-year [12][11]. Cross-Border Travel - A total of 6.615 million people crossed borders during the New Year holiday, with a daily average of 2.205 million, representing a 28.6% increase year-on-year [13]. - Outbound travel remains popular, particularly to short-distance destinations like South Korea and Vietnam, while inbound travel is seeing a shift towards less conventional cities [14][13].