Investment Rating - The industry investment rating is "Overweight" indicating that the growth level of the industry is expected to be higher than that of the CSI 300 index over the next six months [3][30]. Core Insights - The tourism market is showing significant recovery with three main trends: long-distance travel revival, cross-border travel increase, and county-level market expansion. The proportion of cross-city accommodation orders has exceeded 80%, and inbound travel orders have increased by 173% year-on-year, reflecting a structural upgrade in consumption [2][6][15]. - The government's recent policies, including the "Consumption Promotion Special Action Plan," aim to boost consumption in sectors like culture and tourism, with measures such as a 30% discount on tickets and subsidies for rural tourism. These initiatives are expected to release regional and structural demand [2][18]. - The report highlights a strong pre-holiday surge in travel interest, with hotel search activity up 100% and flight searches up 80% in the past week. The trend of "low-cost, long-distance" travel is becoming established, indicating a shift in consumer preferences [2][6][20]. Summary by Sections Market Review - The social service sector index saw a weekly change of 0.14%, ranking 21 out of 31 in the Shenwan industry classification. The hotel and catering sub-sector performed well with a 3.65% increase [5][7]. Core Insights - The report emphasizes the ongoing recovery in the tourism industry, driven by policy incentives and an upgrade in consumer spending patterns. The market is characterized by long-distance travel recovery, county market expansion, and quality improvement [6][15][21]. - The county-level market is showing remarkable performance, with a 25% increase in tourism heat compared to high-tier cities, indicating a clear trend of consumption upgrading in lower-tier markets [21]. Industry News Dynamics - The report notes the increasing interest in travel among older consumers, with a significant rise in bookings from those aged 60 and above. This demographic is becoming a vital part of the travel market, contributing to the overall growth in tourism [22][23].

Core Viewpoint - The cross-border cultural tourism consumption in the Guangdong-Hong Kong-Macao Greater Bay Area is experiencing significant growth, with residents increasingly traveling for performances and events, indicating a shift in lifestyle preferences [1] Group 1: Market Demand and Supply - The cultural performance market in the Greater Bay Area is thriving, with strong demand and supply dynamics observed in 2023 [1] - The trend of traveling to different cities for performances has become a fashionable lifestyle choice among residents in the Greater Bay Area [1] Group 2: Cross-Border Movement - As of April 14, 2023, over 6.63 million entries and exits of mainland residents were recorded at the Huanggang and Futian ports, marking a year-on-year increase of 19.3% [1]

央视网消息（新闻联播）：陕西、山西两地认真贯彻落实习近平总书记在全国两会上的重要讲话精神， 持续优化文化产品和服务供给，创新丰富消费场景，充分释放文化、旅游等消费潜能，为经济发展注入 新活力。 拓展多元消费场景 山西以文化赋能经济社会发展 在山西大同千年古寺，古建筑研学游持续火热；在历史文化街区，非遗传承人现场指导篆刻、漆器、壁 画临摹等，让传统技艺焕发新活力。今年以来，大同通过拓展文创产品、非遗美食等新场景、新业态， 已吸引超400万人次来到这里。山西全省66个重点景区累计接待游客超1700万人次，同比增长20.43%。 陕西创新消费场景 激活文旅消费新动能 立足自身资源禀赋。今年，山西对传统的大院游、古城游开辟沉浸式演艺、科技互动体验、创意市集等 新场景，从扩大文旅消费供给和优化文旅消费环境两方面发力，进一步完善服务设施，提高接待能力， 加快释放文化、旅游等消费潜力。 走进古城西安，游客可以在"长安十二时辰"主题街区里，沉浸式体验唐风市井生活，也可以登上古城 墙，通过全新推出的互动体验项目，深度感受它的古朴厚重。在秦始皇帝陵博物馆，人们戴上VR眼 镜，地下军团便在眼前生动再现。今年1—2月，西安共接待游客 ...