2025年国庆与中秋"双节"叠加，形成了8天的长假。文化和旅游部数据中心发布的最新测算数据显示， 国庆中秋假期，全国国内出游8.88亿人次，较2024年7天的国庆假期增加1.23亿人次；国内出游总花费 8090.06亿元，较2024年国庆节假日增加1081.89亿元。多家在线旅游平台数据显示，受多元需求和优质 新型供给驱动，文旅消费呈现"量质齐升、多元场景绽放""出入境游热度提升"的特征。旅游新业态新趋 势不断涌现，给旅游市场带来更多想象空间。 体验游受追捧 美团旅行数据显示，国庆中秋长假，在同一城市停留7天至8天进行"深度体验"的游客数量较2024年同期 增长50%以上，沈阳洗浴、扬州"三把刀"、成都茶馆非遗演出、大理扎染等富有城市特色的体验，成为 旅游中的必打卡项目。比如，长假期间，"沈阳洗浴带住宿"搜索量同比增长超300%，极具地区特色的 洗浴体验，成为沈阳异地游客交易额第一的玩乐品类。 北京交通大学经济管理学院旅游系主任王学峰表示：今年'双节'假期，国内旅游市场呈现出由'规模扩 张'向'质量提升'的转型趋势，游客行为从传统的观光游览，逐步转向追求沉浸体验、智能服务与文化深 度的新阶段，反映出旅游消费结 ...

投资建议 国庆假期国内旅游市场运行平稳，出入境游市场双向升温，并有望延续 修复态势。我们重点推荐资源优质、运营强劲、有外延增长预期的出行 链及相关产业链公司：岭南控股、长白山、黄山旅游；受益于商旅客流 复苏以及疫后市占率提高的连锁酒店品牌锦江酒店；跨境游市场增长有 望带动机场免税的恢复，市内免税新政落地以及离境退税政策升级有望 贡献增量，推荐中国中免、王府井等，文体旅融合趋势持续火热，建议 关注中体产业、锋尚文化等。 评级面临的主要风险 出行需求复苏不足、宏观经济复苏不及预期。 社会服务 | 证券研究报告 — 行业点评 2025 年 10 月 10 日 强于大市 2025 年国庆&中秋旅游数 据点评 国内游出行半径扩大，跨境游双向升温 国庆中秋双节假期国内出人次创新高，深度长途游重回主流，人均消费略有 承压，文体旅融合趋势依旧，跨境游市场持续火热并有望延续优秀表现，维 持行业 强于大市 评级。 支撑评级的要点 相关研究报告 《社会服务行业双周报》20250924 《社会服务行业双周报》20250910 《社会服务行业双周报》20250821 中银国际证券股份有限公司 具备证券投资咨询业务资格 社会服务 证券分 ...

旅游ETF跟踪中证旅游主题指数，覆盖旅游景区、航空机场、旅游零售、酒店餐饮等细分领域。在国庆 假期、免签政策扩容、退税政策优化等多重催化下有望受益。 2025年国庆中秋假期，旅游市场展现出强劲的活力与新趋势。国庆期间8.88亿的出游人次和超8000亿元 的消费总额，印证了国内消费市场的深厚潜力。 整体来看，旅游市场的驱动力已从传统景点观光转向沉浸式、主题化的深度体验游，像文物考古、国门 游览、音乐节追星、体育赛事等新玩法均备受青睐。 10月10日，A股关键指数集体调整，而旅游ETF逆势上涨，大连圣亚、西藏旅游、海南机场、长白山等 涨幅靠前。 ...

贝壳 今年国庆中秋双节叠加的8天"超级黄金周"正式收官。根据交通运输部分析预测，中秋、国庆假期全社 会跨区域人员流动量将达到24.32亿人次，平均每天大概2.95亿人次，比去年同期增长3.2%左右。 全国多个景区门票约满、古镇老街人头攒动、不少小城成功出圈、"躺平窝囊游"等新玩法涌现……2025 年国庆假期恰逢中秋，外出旅游与返乡团圆交织，远途旅行与深度体验成为假期旅游主要趋势，国内 游、出境游、入境游等订单再创新高。 美团旅行数据显示，国庆中秋假期，文旅消费Top10目的地城市分别为南京、成都、西安、北京、重 庆、武汉、长沙、洛阳、上海、广州。 01 不少小城成功出圈 "鸡排哥"为景德镇旅游热度加把火 在返乡探亲和外出旅行两大客流叠加下，国庆中秋假期的长线跨区需求明显增加。同程旅行数据显示， 2025年国庆中秋假期，航段距离在400-800公里、800-1200公里，以及3200公里以上的国内机票占比均 超过20%，其中3200公里以上的航段量同比增长14%，增速在纳入统计范围内的全部航段中位居第一， 新疆成为3200公里以上的航段量的热门始发地和目的地。 来自携程的数据显示，国庆中秋假期，乌鲁木齐、呼和浩 ...

2025年"超级黄金周"数据盘点：出境入境双线升温，音乐节和体育赛事再度带火县域旅游 每经记者｜舒冬妮 10月8日，今年国庆中秋双节叠加的8天"超级黄金周"迎来最后一天。交通运输部预测，国庆中秋假期全 社会跨区域人员流动量达到23.6亿人次，平均每天约2.95亿人次，同比增长3.2%左右。 携程、同程旅行、去哪儿等多家平台数据显示，假期旅游市场呈现出"小城热力不减、出境入境双热、 体验型消费走强"的鲜明特征。随着县域旅游基础设施的完善和出入境政策的持续优化，越来越多小城 居民开启"首趟出境之旅"，而外国游客也深入中国地方城市，形成旅游市场双向奔赴的新格局。 纵观整个"超级黄金周"，旅游消费从简单的观光游览向深度体验转变趋势明显。同程旅行数据显示，连 住2天及以上的国内酒店预订热度同比增长超过52%，同时预订2个及以上城市的用户占比也同比大幅增 长，体现了游客更倾向于慢节奏、多站式的旅行方式。在跟团游市场，非一线城市用户也表现出"走得 更远"的特点，国内跟团游预订热度同比增长超过70%；而一线城市用户则更注重"玩得更好"，愿意为 高品质服务支付溢价。 当人们选择"走得更远"，这个国庆档的电影市场就与火热的旅游市 ...

远途旅行与深度体验成为今年国庆旅游主要趋势。 还有一批秉持"省更多的力、看更多的风景"理念的旅客，选择司导包车游。携程表示，北京包车游假期订单同比增长75%，四川阿坝等风景胜地包车订单增 长翻倍；出境包车游更是呈现深度化趋势，整体订单量同比增长超120%，其中日本市场总GMV增长180%，斯里兰卡市场GMV同比增幅超300%。取代传 统"到此一游"式观光的还有环岛骑行、非遗体验、夜游演艺、城市解谜打卡等体验式玩法，游客对于行程的期待不再停留在景点本身，而转向内容与情绪的 满足。目的地选择上，长线深度游成为明显趋势。北京、成都、上海、西安、重庆、武汉、广州、青岛、南京和杭州上榜国内热门长途游目的地Top10。 从游客结构来看，飞猪数据显示，1995年至1999年出生的95后扛起了今年国庆中秋假期出游的大旗，预订人次占比最高，达近四分之一；2005年以后出生的 05后也开始独立旅行，预订人次同比去年大增61%，占比也提升最快。 今年国庆中秋双节叠加的8天"超级黄金周"收官，携程等各大旅游平台显示，远途旅行与深度体验成为今年国庆旅游主要趋势，国内长途游订单占比较去年 提升3个百分点。飞猪数据显示，假期出行的客单价同 ...

Core Insights - The tourism market is transitioning from the "sightseeing era" to the "experience era," with more tourists rejecting standardized travel itineraries in favor of deeper, personalized experiences [1][3][6] Market Performance - On October 1, the first day of the National Day and Mid-Autumn Festival holiday, the tourism market experienced a peak in travel, with an estimated 340 million trips, breaking historical records [2][4] - Popular domestic destinations included Beijing, Shanghai, Chengdu, Guangzhou, Chongqing, Hangzhou, Xi'an, Nanjing, Shenzhen, and Wuhan, reflecting a robust domestic tourism market [4] - There was a significant increase in outbound travel, with popular destinations including Japan, Thailand, Malaysia, South Korea, Singapore, Vietnam, Australia, Indonesia, and the United States [4] Travel Trends - A notable shift from "cookie-cutter" tourism to personalized travel experiences has been observed, with customized travel sales increasing by over 40% during the holiday period [6][7] - Tourists are increasingly seeking authentic cultural connections, as evidenced by a traveler expressing a preference for local markets and traditional cooking experiences over typical tourist attractions [7] Regional Tourism Insights - Cities located at provincial borders, offering "one trip, multiple experiences," are attracting more visitors, with significant order growth reported in Yunnan (70%), Jiangxi (57%), and Hubei (43%) [9] - Red tourism, which focuses on historical sites, has gained popularity, with many tourists visiting locations such as the National Museum of China and Tiananmen Square during the holiday [9] Travel Strategies - Many travelers are opting for staggered travel to enjoy better value, with domestic flight prices dropping by over 30% during the middle of the holiday compared to the peak days [11] - A total of over 50 million yuan in consumer vouchers has been issued to enhance travel affordability, benefiting various destinations across the country [11]

Core Insights - The upcoming "super golden week" combining the Mid-Autumn Festival and National Day is driving a significant increase in travel demand, with a notable rise in cross-province and outbound travel bookings [1][2][8] - Travelers are increasingly prioritizing emotional value, time efficiency, and cost-effectiveness in their travel decisions, shifting from mere sightseeing to immersive experiences [2][3][4] Travel Preferences Transformation - Cross-province travel orders have surged by 45% year-on-year, with a 58% increase in bookings for inter-provincial border cities [2] - Popular destinations include cities that offer a blend of cultural and natural experiences, such as Zhaotong and Hezhou, with order growth of 95% and 88% respectively [2] - Travelers are now more inclined to seek "pan-destination" recommendations, focusing on experiences rather than specific landmarks, with searches for keywords like "less crowded" and "affordable" doubling [2][3] Emotional Value and Experience - Emotional value is becoming a core factor in destination selection, with a 60% increase in searches for distant hotels on travel platforms [3] - There is a growing preference for complex travel products that combine scenery, culture, and experiences, such as temple retreats and local craft workshops [3] Cost-Effectiveness in Travel - The trend of flexible travel times and cost-effective destinations is evident, with some locations still offering lower prices compared to last year [4] - Over 30% of travelers are utilizing "3 days off for 12 days" strategies to extend their holidays, leading to significant savings on flights [4][5] Diverse Travel Patterns - The booking rhythm for the holiday has advanced by approximately 3.5 days compared to last year, with a notable increase in multi-destination travel [5] - There is a marked rise in car rentals, particularly for SUVs and family-friendly vehicles, reflecting a shift towards more personalized travel experiences [6] Outbound and Inbound Travel Growth - Both outbound and inbound travel markets are experiencing robust growth, with popular short-haul destinations like Japan and Thailand, as well as emerging long-haul destinations [7] - The introduction of visa-free policies for several countries has further stimulated outbound travel, with significant increases in hotel bookings for destinations like Egypt and Uzbekistan [7][8] - The inbound market is also thriving, with a 75% increase in bookings from Russian tourists following the mutual visa exemption policy [7][8]

Core Insights - The article highlights the significant increase in foreign tourist arrivals in China, driven by visa-free policies and tax refund initiatives, leading to a shift from traditional sightseeing to immersive cultural experiences [1][15]. Group 1: Tourist Trends - Foreign tourists are increasingly engaging in diverse experiences in China, moving beyond mere sightseeing to exploring local culture and traditions [9][17]. - The number of foreign tourists visiting Beijing's Xiushui Street has doubled compared to the same period last year, with sales expected to rise by over 80% [5]. - In Shenzhen's Huaqiangbei, the number of foreign visitors has increased by 50% year-on-year, with daily averages rising from 7,000 to 8,000 in June [7]. Group 2: Cultural Engagement - Tourists are showing a keen interest in cultural products, with a notable demand for traditional Chinese items such as tea cups and chopsticks [3][5]. - Cultural experience products have seen a 300% increase in bookings, with traditional crafts and performances gaining popularity among foreign visitors [15]. - Tourists are seeking deeper cultural understanding, as evidenced by their interest in local lifestyles and historical contexts during guided tours [13][17]. Group 3: Policy Impact - The expansion of visa-free policies and the enhancement of travel convenience have contributed to a substantial rise in foreign tourist numbers, with Beijing and Shanghai seeing increases of 36.5% and 38.5% respectively [17]. - The article emphasizes that these policy changes are making China an increasingly attractive destination for international travelers, showcasing a more vibrant and authentic image of the country [17].

Core Insights - The summer tourism market in Beijing is experiencing a surge, with new characteristics emerging this year [1] Group 1: Visitor Demographics and Trends - The primary visitor demographic at the National Museum of Nature is family groups, particularly those participating in educational tours [3] - The age group of 13 to 18 years has become a significant growth driver, with booking numbers increasing nearly sixfold [14] Group 2: Visitor Experience and Preferences - Tourists are spending more time at each attraction, indicating a shift towards deeper experiential tourism [10] - Visitors are increasingly interested in knowledgeable guides, with a noted rise in the demand for guides' expertise and service awareness [12] Group 3: Ticket Sales and Popular Attractions - Ticket bookings for Beijing's attractions have increased by 12% compared to the same period last year [14] - The top attractions include Universal Beijing Resort, the Palace Museum, the Military Museum of the Chinese People's Revolution, and Beijing Happy Valley [14]