值得关注的是，此次天津—东京航线加密与现有西南地区对日通道形成呼应。自2024年11月29日开通的 贵阳—大阪直飞航线（每周三、五、日执飞）同样持续释放惠民红利，记者查询到，目前GS7983贵阳 —大阪单程票价330元起，GS7984大阪—贵阳190元起，为西南地区民众赴日出行提供便利。（以上价 格均不含税费，以实际查询为准） 为提升旅客出行体验，天津航空推出50余个干、支机场始发经天津中转至东京、大阪的联程航班，符合 相应条件的旅客可享受中转住宿服务。此外，留学生凭有效学生证件购票，普通经济舱可额外免费享受 一件23公斤托运行李；亲朋结伴、3—9人同行旅客可享受至高8%的票价优惠。目前新增航班已开放销 售，旅客可以通过天津航空官方网站及各大平台查询购票。（编辑：李季威 校对：张薇 审核：韩磊） 据了解，该加密航班境内始发为北京时间18：50自天津滨海国际机场出发，当地时间23：00到达东京羽 田国际机场；回程为当地时间00：05自东京起飞，北京时间02：35抵达天津。同时，现阶段每周一、 二、四、六执行的GS7989/90天津—东京航班计划不变，届时，每周将有5班往返天津与东京，构建起 京津冀往来日本首都经 ...

Investment Rating - The industry investment rating is maintained as "Accumulate" [5] Core Viewpoints - The travel and tourism sector shows significant growth, with domestic travel during the May Day holiday reaching 314 million trips, a year-on-year increase of 6.4%, and a 36.4% increase compared to 2019 [1] - The average spending per traveler during the holiday was 574 yuan, reflecting a 1.5% year-on-year increase [1] - The overall retail and catering sales during the holiday increased by 6.3% year-on-year, indicating sustained consumer market vitality [4] Summary by Sections Travel and Tourism - Popular scenic spots saw substantial visitor increases, with notable growth in ticket sales and revenue for various attractions [2] - Long-distance travel destinations in western China experienced ticket sales growth of 100-200% year-on-year [3] - Outbound travel orders increased by 20% year-on-year, while inbound travel orders surged by 130% due to favorable policies [3] Hotel and Accommodation - Hotel bookings during the May Day holiday increased by 24.93% year-on-year, with average booking prices for economy hotels rising compared to last year [2] - High occupancy rates were reported in various regions, particularly in second and third-tier cities [2] Retail and Consumer Spending - Key retail and catering enterprises reported a year-on-year sales increase of 8.7% during the holiday [4] - Specific sectors such as home appliances, automobiles, and communication equipment saw sales growth of 15.5%, 13.7%, and 10.5% respectively [4] - The overall consumer market remains vibrant, with significant increases in foot traffic and sales in major cities [7] Investment Opportunities - The report highlights potential investment opportunities in hotel and tourism companies such as Huazhu Group, Jinjiang Hotels, and Xiangyuan Culture Tourism [8] - The retail sector is expected to benefit from ongoing policy support, with companies like Yonghui Supermarket and Chongqing Department Store identified as key players [8]

齐鲁晚报.齐鲁壹点赵波通讯员江一昕 今年"五一"假期(5月1日至5月5日)，青岛机场共保障航班2814架次，服务旅客40.38万人次。4月30日为节前出行高峰，单日旅客吞吐量达 8.93万人次。 国内客运市场需求旺盛 假期期间，上海、成都、广州、哈尔滨、杭州、沈阳、西安、重庆、深圳、长春位列青岛机场国内客运量前十，合计占比达56%。青岛 机场联合多家航司聚焦重点市场与热门线路，动态调整运力，配合线上旅游代理平台加强机票促销，持续吸引旅客经青出行。杭州、沈 阳、深圳、西安等方向客座率超90%，深圳、哈尔滨、上海、宁波、厦门、银川、乌鲁木齐等地航线旅客量同比增长超20%。 国际及地区航线热度攀升 在国际及地区航线方面，首尔、大阪、釜山、新加坡、中国香港为热门目的地，共运输旅客3.59万人次，占比达78%。其中，釜山方向 客座率达92%，芽庄方向更超过98%。大阪、中国香港方向旅客同比增幅分别达103%、69%，出境游市场不断升温。 据青岛机场边检站统计，假期期间青岛机场口岸共保障出入境旅客超5万人次，同比增长16.4%。其中，内地居民出入境约3.2万人次，外 籍旅客入境8700余人次，同比大幅增长92.4%。为提 ...

每经编辑：张益铭 点评：东方金诚首席宏观分析师王青认为，人民币适度升值本身就是"稳市场"的一个重要方面，这能有 效控制金融风险。另外，人民币适度升值还能有效稳定国内资本市场信心，对稳股市有积极作用。 NO.4"五一"假期银联、网联共处理支付交易234.39亿笔 丨2025年5月7日 星期三丨 NO.1蓝佛安：中方将采取更加积极有为的宏观政策 近日，亚洲开发银行理事会第58届年会在意大利米兰举行。财政部部长、亚行中国理事蓝佛安与会并发 言。蓝佛安指出，中国是经济全球化的受益者也是贡献者，近年来对全球经济增长的贡献率保持在30% 左右。今年一季度GDP同比增长5.4%，实现良好开局。中方将采取更加积极有为的宏观政策，有信心 实现2025年的5%左右增长目标。 点评：这一积极态势对市场影响正面，市场信心将得到提振，尤其是与宏观经济关联度高的板块，如金 融、基建、消费等有望迎来增长预期提升。中方积极宏观政策的推进，为市场注入确定性，增强投资者 对2025年5%左右增长目标的信心，推动市场整体向好发展。 NO.2央行、证监会等部门将介绍"一揽子金融政策支持稳市场稳预期"有关情况 国务院新闻办公室5月6日消息，国务院新闻 ...

21世纪经济报道记者张敏深圳报道 "我们项目是2022年开的盘，现在还有70多套，希望借助'好房节'做 促销。"5月1日，为期5天的2025年深圳市"五一好房节"正式开幕，开幕当天，一位参展的房企负责人热 情地推介其项目，他说，"价格可以商量。" 该活动由深圳市住房和建设局指导，深圳市安居集团、深圳市地铁集团联合市房地产业协会、房地产中 介协会主办。21世纪经济报道记者在现场获悉，不少房企携项目参展，并提供优惠。另有一些经纪公 司、金融机构参展，为客户提供购房服务。 根据深圳市住房和建设局提供的数据，本届"好房节"共吸引10余万市民到场参展。受此影响，"五一"假 期期间，深圳楼市成交量也高于去年同期。 深圳贝壳研究院的监测数据也显示，今年"五一"小长假期间，贝壳深圳合作门店二手房签约量较去年同 期增长66%，新房签约量增长17%。 以主题促销活动带动假日楼市，成为一些城市的标配。 今年4月29日，由成都市住建委发起的"安家成都·美好购房季"正式启动。官方信息显示，共有30家房 企、120多个项目参与。 这是今年热点城市"五一"楼市的缩影。"五一"假期期间，不少城市推出楼市促销活动，试图延续"金三 银四"的市场 ...

五一出行数据点评 20250505 摘要 五一期间各大景区的表现如何？ 五一期间，各大景区表现突出，多地客流量超过历史高点。例如黄山徽州区主 要景区接待游客 9.24 万人次，同比增长 49%；西湖景区同比增长 1.84%；峨 眉山首日接待游客同比增长 30%以上；张家界前两日接待游客同比增长 45%，天门山和武当山分别增长 29.77%和 49%。这些数据表明，今年五一 假期各大热门景区迎来了大量游客。 酒店行业在 2025 年五一假期中的表现如何？ 酒店行业在 2025 年五一假期中表现非常超预期。华住发布的数据截至 4 月 23 日显示，今年五一订单量相比去年同期增长了 1.3%，且有持续攀升趋势。截 至 4 月 24 日县城预订量同比去年增加约 20%。OTA 平台酒店指数也显示出显 著增长，其中酒店支出增幅达到 24.48%。各省市方面，例如广东省酒店业绩 同比增长 18%，四川门票收入增幅为 19%，内蒙古和甘肃分别为 8%和 5.4%。 出入境旅游在今年（2025 年）五一假期中的情况如何？ • 2025 年五一假期跨区域流动显著增长，异地旅游趋势明显，其中跨区域 流动分别同比增长 5.4%、4 ...

Core Insights - The domestic travel during the "May Day" holiday reached 314 million trips, representing a year-on-year increase of 6.4% [1] - Total spending by domestic tourists amounted to 180.27 billion yuan, reflecting a year-on-year growth of 8.0% [1] - The inbound tourism market is also recovering, with major source countries including Myanmar, South Korea, Malaysia, Australia, the UK, Thailand, the Philippines, Russia, Vietnam, and Japan, accounting for 57.4% of foreign visitors [1] Domestic Travel Trends - The five-day holiday saw a significant increase in domestic travel, with 314 million trips taken [1] - The total expenditure by domestic tourists reached 180.27 billion yuan, indicating a healthy growth in consumer spending during the holiday [1] Inbound Tourism Recovery - Inbound tourism is experiencing a resurgence, with a diverse range of countries contributing to the influx of foreign visitors [1] - Notable attractions such as the Chongqing drone light show and the Kuixing Tower have drawn significant attention from inbound tourists [1] - Cultural and creative IP products, particularly those featuring giant pandas, are popular among foreign visitors [1]

Core Viewpoint - Goldman Sachs has adjusted its forecasts for the real estate sector and covered developers due to the immediate impact of tariff measures on employment and household income, delaying the stabilization of housing prices in first- and second-tier cities to mid-2026 [2][4]. Group 1: Market Forecast Adjustments - The forecast for total housing sales volume in 2025E-2026E is expected to drop to levels comparable to 2010-2011 and 2014, with primary market GFA sold projected at 894 million sqm in 2025E, down from previous estimates [3][11]. - Property sales in RMB trillion are forecasted to decline from 11.7 in 2023 to 8.4 in 2025E, reflecting a year-on-year decrease of 13% [3][11]. - Average selling prices (ASP) in the primary market are expected to decrease by 5% in 2025E and 3% in 2026E, stabilizing by the end of 2026E [3][11]. Group 2: Secondary Market Insights - The secondary market is anticipated to face significant pressure, with sales volume expected to decline by an average of 13% for 2025-2027, driven by widening bid-ask spreads and deteriorating supply quality [4][15]. - The average ASP in the secondary market is projected to decrease by 7% in 2025E and 4% in 2026E, reflecting weakened demand-supply dynamics [17][21]. - The turnover rate in the secondary market is estimated to drop by 0.3 percentage points nationwide from 2024 to 2026E, indicating a contraction in market activity [16][20]. Group 3: Developer Performance and Strategy - Goldman Sachs has lowered the core EPS forecasts for covered developers by 4%-6% for 2025-2027, reflecting pressures from sales scale, profit margins, and land reserve quality [4][55]. - Developers are increasingly focusing on land banking in core cities, with over 80% of total land acquisition value in 2024 concentrated in the top-10 cities, indicating a strategic shift towards higher-quality land [40][54]. - The average gross profit margin (GPM) for new acquisitions in 1Q25 is estimated to show a 7 percentage point improvement compared to previous reported figures, suggesting a potential recovery in profitability for developers [51][55].

携程发布报告显示，今年"五一"假期，国内文旅市场强势复苏，呈现"多点开花"态势。长线游目的地表 现亮眼，青海、新疆、宁夏等地景区门票销售额同比激增1-2倍；亲子家庭与携宠出游"双线并进"；自 驾游市场"量价齐升"；邮轮游强势回归，携程预订量同比飙升120%；国潮文化深度赋能旅游，古镇流 量激增超30%；"反向旅游"带火乡村游，新疆民宿预订提前两月入旺季。此外，入境游订单同比激增 130%，农耕体验、"中国购"成外国游客打卡新方式。 ...

新浪科技讯 5月5日上午消息，5月5日，同程旅行发布《2025"五一"假期旅游消费洞察报告》。报告显 示，得益于假期前半程全国大部分地区天气晴好，以及前后拼假等多重因素影响，今年"五一"假期国内 旅游市场的热度或创历史新高，且旅行热度有望延长到假期结束后的首个周末。其中，国内旅游市场供 需两旺，呈现出"城市大休闲、乡村微度假"的特点。同程旅行数据显示，除北上广深杭等热门旅游城市 外，"一路向西"成为今年"五一"国内长线旅游市场的主流趋势。此外，成渝、云贵等地区的旅行热度提 升明显，"奔县游"热度依旧不减。 根据民航局假期前发布的预测数据显示，今年"五一"假期，民航旅客运输量约为1075万人次，日均215 万人次，同比增长8%，创同期历史新高。为了应对客流高峰，"五一"假期民航局批复173班加班计划， 加班主要涉及丽江、珠海、敦煌、赣州、三亚等35个城市。从民航局节前公布的旅客订票量最高的城市 中，成都是唯一与北京、上海、广州、深圳并列第一梯队的城市。值得注意的是，成渝、云贵不仅是热 门航线的终点，也是热门自驾游线路的起点。同程旅行数据显示，"五一"假期国内十大热门自驾游城市 包括：成都、重庆、上海、南京、武汉 ...