2024春节消费数据点评：春节旅游表现亮眼

Investment Rating - The industry investment rating is "Market Weight" indicating that the industry index is expected to perform within -10% to 10% relative to the CSI 300 index over the next six months [9]. Core Insights - The tourism market is experiencing a significant rebound, with domestic travel during the Spring Festival reaching 474 million trips, a year-on-year increase of 34.3%, and a 19.0% increase compared to 2019 [7]. - Domestic tourism revenue reached 632.69 billion yuan, up 47.3% year-on-year, and a 7.7% increase compared to 2019 [7]. - The average per capita spending for domestic tourists during the Spring Festival was 1,334.8 yuan, reflecting a year-on-year increase of 9.4% [7]. - The average travel radius for tourists increased by 10.2% to 227.9 kilometers, indicating a trend towards longer trips [7]. - The popularity of domestic ice and snow tourism and island tourism is on the rise, with cities like Harbin and Sanya seeing increased visitor numbers [7]. - The growth of duty-free shopping in Hainan is notable, with shopping amounts during the Spring Festival reaching 2.26 billion yuan, a 4.9-fold increase year-on-year [8]. - The box office performance during the Spring Festival was remarkable, with total ticket sales reaching 8.016 billion yuan, a year-on-year increase of 18.47% [8]. - Investment recommendations suggest focusing on sectors such as scenic spots, hotels, and duty-free shopping, as consumer spending power and demand are expected to drive industry growth [8]. Summary by Sections Tourism Performance - The Spring Festival saw 474 million domestic trips, a 34.3% increase year-on-year, and a 19.0% increase compared to 2019 [7]. - Domestic tourism revenue reached 632.69 billion yuan, up 47.3% year-on-year, and 7.7% compared to 2019 [7]. - Average spending per tourist was 1,334.8 yuan, a 9.4% increase year-on-year [7]. - The average travel radius increased by 10.2% to 227.9 kilometers [7]. Market Trends - Ice and snow tourism, as well as island tourism, are gaining popularity, with cities like Harbin and Sanya benefiting from increased visitor numbers [7]. - Duty-free shopping in Hainan has surged, with shopping amounts during the Spring Festival reaching 2.26 billion yuan, a 4.9-fold increase year-on-year [8]. Box Office and Consumer Sentiment - The Spring Festival box office reached 8.016 billion yuan, a year-on-year increase of 18.47% [8]. - Investment suggestions highlight the potential in scenic spots, hotels, and duty-free shopping sectors, driven by improving consumer spending and demand [8].