2026年春节假期为2月17–23日，是史上最长春节假期。延长至9天的长假显著提振了餐饮、旅游等对客 流高度敏感的消费场景。该行将本次春节视为观察消费修复内生动力，以及研判全国"两会"前后政策取 向的重要窗口。在宏观环境偏弱的背景下，政策支持务实且前置落地，各地政府在春节前累计发放逾 20.5亿元消费券及补贴，有效托底需求。官方数据显示，本次春节消费表现好于预期。商务部数据显 示，重点零售和餐饮企业销售额在可比口径下同比增长5.7%，较2025年春节和中秋"黄金周"分别4.1% 和2.7%的增速明显加快。在监测的78个重点商圈中，客流量和销售额同比分别增长6.7%和7.5%。整体 来看，本次春节数据为全年消费复苏奠定了相对稳固的起点。 节日聚会需求带动餐饮收入 智通财经APP获悉，建银国际发布研报称，服务型与体验型消费的修复明显快于传统商品零售。展望后 续，消费修复仍呈现结构性与不均衡特征，部分传统零售细分领域或面临库存与价格压力。政策层面， 预计决策层将延续春节期间形成的积极势头，在全国"两会"前后进一步推出更有针对性的、渐进式宽松 举措，以稳预期、托底需求。在此背景下，盈利可见性和基本面韧性显得更为重要。 ...

（来源：经济日报） 转自：经济日报 奔赴一座城，感受一种民俗。今年春节，更浓郁的年味成为吸引游客的关键。在途家民宿平台上，拥有 英歌舞等潮汕年味的广东揭阳，春节民宿预订量增长3.8倍；安徽黄山的鱼灯巡游成为吸引客流的流量 密码，徽州古城、徽州呈坎镇周边民宿预订量分别增长2.1倍和7.8倍。不少房东化身当地民俗向导，赋 予旅行更深的文化意义……云南大理大吉民宿工作人员郭静瑶介绍："春节期间全部房间都被早早预 订，我们组织住店客人一起到附近村镇感受春节氛围，还邀请客人体验甲马等当地非遗手作。" 今年春节假期恰逢米兰冬奥会举行，除了在电视机前为中国选手加油助威，人们还可以亲身感受冰雪之 乐。冰雪为媒，文化为魂，内蒙古在节日期间推出490余项文旅活动。黑龙江以冰灯游园会、非遗年货 大集、元宵花灯秀、雪地蹦迪、全民雪仗对抗赛等250余项活动诚邀游客"冰雪过大年"。哈尔滨纵横国 旅线上负责人李德媛介绍，今年接待的游客主要来自长三角、珠三角地区，有60％的游客选择小团出 游，"和从前偏好观光不同，现在的游客特别重视体验，希望深度感受冰雪文化"。 北方有冰雪之乐，南方有温润气候，适合全家老少集体出游。在福建泉州，全市40条地 ...

今年春节假期恰逢米兰冬奥会举行，除了在电视机前为中国选手加油助威，人们还可以亲身感受冰雪之 乐。冰雪为媒，文化为魂，内蒙古在节日期间推出490余项文旅活动。黑龙江以冰灯游园会、非遗年货 大集、元宵花灯秀、雪地蹦迪、全民雪仗对抗赛等250余项活动诚邀游客"冰雪过大年"。哈尔滨纵横国 旅线上负责人李德媛介绍，今年接待的游客主要来自长三角、珠三角地区，有60%的游客选择小团出 游，"和从前偏好观光不同，现在的游客特别重视体验，希望深度感受冰雪文化"。 北方有冰雪之乐，南方有温润气候，适合全家老少集体出游。在福建泉州，全市40条地标街区推出超 280场非遗踩街活动，每日主题不同，涵盖南音、木偶等百余个项目，12个灯会展区点亮超2000盏非遗 花灯。各种主题乐园也深受亲子家庭喜爱。广州长隆欢乐世界将岭南传统年俗与游乐体验深度结合，广 州长隆度假区总经理陈奕表示："要让游客在欢乐场景中感受'广府年味'，通过多元业态融合打造沉浸 式新春团圆目的地，为亲子家庭营造阖家欢乐的氛围。" 除了在国内享受假期，还有不少人把脚步迈向了更远的远方。去哪儿旅行平台数据显示，假期期间，中 国游客在全球近3000个城市预订了酒店，其中泰国、韩 ...

从上海的数据来看，据上海旅游大数据监测，春节假日第一天共接待游客256.12万人次，同比增长38.97%。春节期间，上海市推出节庆活动、演出项目、博 物馆展览、美术馆展览、非遗活动、公共文化活动、儿童友好阅读新空间活动七大板块，共计2570项特色活动，实现文娱、体育、科技等新春主题游全覆 盖，打造年味浓郁、业态丰富、性价比高的春节文旅体验。 去哪儿大数据研究院研究员杨涵分析，今年"反向过年"火热，是春节团圆理念的更新，也是一笔务实的经济账；对春运格局而言，逆向出行的长辈们，既有 助于平抑拥挤的春运航线，也在一定程度上激活着一线大城市的春节文旅市场。 出境游方面，假期第一天，不少游客已开启旅程，去哪儿旅行数据显示，2月15日，平台上的中国游客飞往了全球475个城市。途牛数据显示，免签游、海岛 游、异域文化体验游等备受游客青睐，马尔代夫、马来西亚、新加坡、印度尼西亚、泰国、澳大利亚、越南、埃及、韩国、阿联酋等目的地假期首日出游热 度排名靠前。值得一提的是，眼下正值2026年冬奥会举办，带动飞赴意大利观赛+旅游热度攀升。 2月15日作为春节假期首日，迎来"反向过年"高峰。 2月15日是"最长春节假期"首日、马年"小 ...

经济观察网 近7天（截至2026年2月12日），途牛(TOUR.OQ)股价呈现波动走势。根据内部数据库，2月 9日至2月12日区间涨跌幅为0.00%，振幅4.82%，最高价0.65美元（2月9日），最低价0.62美元（2月10 日）。成交相对清淡，日均成交额约3.6万美元。最新收盘价0.62美元（2月12日），单日下跌1.11%，5 日涨跌幅为0.53%。 近期事件 营销活动：途牛于2026年1月20日至2月2日携手「抖音心动大牌日」开启"冬日赴一场海岛之约"主题活 动，通过实景直播和预售模式提升品牌曝光，活动期间创下单日支付金额历史新高（突破2300万元）。 政策环境：2月6日国务院发布《加快培育服务消费新增长点工作方案》，商务部将牵头制定促进旅行服 务出口和扩大入境消费措施，为旅游行业提供宏观支持。春节旺季：2026年春节假期出境游预订量同比 增长60%，旅游市场热度提升，可能对途牛业务形成短期催化。 中诚信国际2月10日报告指出，2026年旅游行业整体有支撑，但竞争加剧，消费者更注重"质价比"，企 业需通过产品创新和高效运营赢得增长。 以上内容基于公开资料整理，不构成投资建议。 机构观点 ...

Market Overview - US stock indices opened higher due to better-than-expected employment data but closed lower, with the Dow Jones down 66.74 points, S&P 500 nearly flat, and Nasdaq down 36.01 points [1][2] Employment Data - The US Labor Department reported that 130,000 non-farm jobs were added in January, significantly exceeding market expectations of 55,000 to 75,000 and surpassing the revised previous month's figure of 48,000 [3] - The unemployment rate fell from 4.4% to 4.3%, the lowest since August 2025 [3] - Average hourly wages increased by 0.4%, above the expected 0.3% [3] Market Reaction - The strong employment report initially boosted market sentiment but led to a shift in expectations regarding the Federal Reserve's interest rate cuts, pushing the anticipated timing from June to July [4] - The probability of a 25 basis point rate cut by March dropped from 19.6% to 6%, while the likelihood of maintaining current rates surged from 80.4% to 94% [4] Semiconductor Sector Performance - The semiconductor sector, particularly storage chips, saw significant gains, with the Philadelphia Semiconductor Index rising over 2% [4] - Notable performers included SanDisk, which surged 10.65%, and Micron Technology, which rose 9.94% [5] - The demand for high-performance storage driven by AI infrastructure is a key factor behind the sector's strength [5][7] Price Trends in Memory Market - According to Counterpoint Research, memory prices increased by 80% in Q1 2026 compared to Q4 2025, with DRAM, NAND, and HBM prices reaching historical highs [7] - UBS analysts predict meaningful supply relief in the global storage industry will not occur until around 2028, indicating sustained demand from AI data center construction [7] SanDisk's Financial Performance - SanDisk reported Q2 2026 revenue of $3.025 billion and a non-GAAP net profit of $967 million, with data center business revenue soaring 64% quarter-over-quarter [7] - Analysts have raised SanDisk's target price significantly, projecting a strong earnings outlook for FY 2027 [7] Broader Market Dynamics - The semiconductor sector's strength contrasts with declines in other tech and emerging sectors, reflecting a complex market landscape [16][17] - The overall market is characterized by a mix of strong and weak performances across various sectors, indicating a cautious investor sentiment [14][17]

经济观察网途牛(TOUR.OQ)近7天股价呈现波动走势，区间最高价为0.65美元，最低价为0.62美元，区 间涨跌幅为-2.03%，振幅5.94%。成交相对清淡，日均成交额约36,596美元。同期，所属美股旅游服务 板块上涨1.75%。 途牛(TOUR.OQ)近7天股价呈现波动走势，区间最高价为0.65美元(2月9日)，最低价为0.62美元(2月5 日)，区间涨跌幅为-2.03%，振幅5.94%。成交相对清淡，日均成交额约36,596美元。同期，所属美股旅 游服务板块上涨1.75%(截至2月11日)。 股票近期走势 以上内容基于公开资料整理，不构成投资建议。 ...

"史上最长春节假期"叠加"请5休15"拼假热潮，为2026年新春文旅市场注入强劲动力。 近期多平台发布了春节旅游消费趋势报告。数据显示，春节机票、酒店等文旅产品预订延续"量价齐升"态势。分段错峰游引领出行新潮流，品质消费升级 点亮体验新场景，出入境双向增长拓宽文旅新边界。 分段式错峰游兴起，小众玩法加速出圈 中国旅行社协会联合途牛发布《2026春节旅游消费趋势报告》（以下简称"报告"）数据显示，今年春节假期，旅游用户分段式出游趋势明显，选择假期前 错峰的早鸟游用户占比接近35%。第一波出游高峰始于南方小年（2月11日）后，第一波出游峰值在情人节及假期首日（2月15日），属于出游和返乡的叠 加态。 此外，在选择冰雪旅游的用户中，南方游客占比接近80%，北上广、江浙地区的用户构成了冰雪旅游的主力军。南下避寒游用户中，来自东三省及京津冀 地区的用户占比超五成，江浙沪地区的用户占比接近30%。 品质消费持续升级 文旅融合催生新场景 随着居民消费理念升级，春节文旅消费从"走马观花"向"深度体验"转变，品质化、场景化特征愈发鲜明。高星级住宿、文化体验类产品预订火爆，文旅融 合场景不断丰富，成为拉动春节文旅消费的核心动力。 ...

Investment Rating - The report maintains a "Buy" recommendation for the consumer services industry, particularly focusing on the upcoming Spring Festival consumption boost [1]. Core Insights - The report highlights that the Spring Festival consumption season is set to begin, with various local governments implementing consumption-boosting policies, which are expected to drive strong market performance [1][2]. - Three major highlights of the consumption promotion activities are identified: unprecedented subsidy levels directly reaching consumers, innovative consumption scenarios integrating various sectors, and the synergy between online and offline channels through digital empowerment [2][3]. Summary by Sections Industry Investment Rating - The consumer services industry is rated as "Recommended" with a focus on benefiting companies in dining, hotels, tourism, duty-free, and retail sectors due to the anticipated recovery in consumer enthusiasm [1][3]. Key Highlights of Consumption Promotion - Subsidies are at an all-time high, with local governments offering consumption vouchers and subsidies exceeding 100 million yuan in various provinces, which is expected to enhance consumer purchasing power [2]. - Innovative consumption scenarios are being developed, moving beyond traditional discounts to immersive experiences that combine culture, tourism, and sports, thereby revitalizing traditional service sectors [2]. - The integration of online and offline channels is becoming more pronounced, with e-commerce platforms actively participating in promotional activities, enhancing efficiency and broadening the consumption landscape [2]. Market Outlook - The report anticipates a robust recovery in the Spring Festival consumption market in 2026, with data potentially exceeding market expectations, laying a solid foundation for sustained consumer market recovery throughout the year [3].

Group 1 - The winter vacation travel market is experiencing a surge in demand as students and families prepare for the holiday season, with a notable increase in travel bookings [2][3][4] - University student flight bookings have increased by over 20% year-on-year since January, indicating a strong trend towards travel among this demographic [2][3] - The peak travel period is expected to occur in the first week of February, coinciding with the start of the spring festival travel rush, driven by university students returning home and families traveling together [3][4] Group 2 - There is a growing preference for quality travel experiences, with integrated products that include cultural performances and traditional crafts gaining popularity, particularly among families [5][6] - Theme parks and museums are particularly favored by young travelers and families, with bookings for theme park hotels increasing by 94% year-on-year [5] - Travel companies are encouraged to develop outdoor experiences and cultural tourism products that cater to the needs of families and students, especially in light of the winter season [6]