【社服】中国入境游迈向高质量发展阶段,龙头OTA与旅行社有望受益——中国入境旅游产业研究专题报告(陈彦彤/聂博雅/汪航宇)
光大证券研究·2025-12-02 23:06

Group 1 - The core viewpoint of the article highlights the significant growth potential of China's inbound tourism market, which has lagged behind domestic and outbound tourism in terms of growth rate and GDP contribution [4] - The inbound tourism market is primarily driven by two factors: the release of visa-free policies and the promotion of Chinese culture abroad, leading to a positive cycle of cultural and tourism integration [5] - The inbound tourism market in China has seen rapid growth since 2023, indicating the onset of a golden development period for inbound tourism [5] Group 2 - Trip.com, as a leading OTA, is benefiting from the inbound tourism boom, with a focus on the Asia-Pacific region and a strategy of gradual international growth [6] - Tongcheng Travel is expanding into international markets, with significant year-on-year growth in international flight and hotel bookings expected in 2024 [7] - Zhongxin Tourism, which started with outbound tourism, is gradually developing its inbound tourism business, having established a subsidiary for inbound services in March 2024 [8]

【社服】中国入境游迈向高质量发展阶段,龙头OTA与旅行社有望受益——中国入境旅游产业研究专题报告(陈彦彤/聂博雅/汪航宇) - Reportify