Investment Rating - The report maintains an "Outperform" rating for the social services industry, indicating a projected increase in performance relative to the market index [4][12]. Core Insights - The upcoming National Day and Mid-Autumn Festival holidays are expected to see record-high travel activity, with a significant increase in outbound travel bookings [1]. - Travel search volume during the holiday period is projected to increase by over 20% year-on-year, with a notable rise in both domestic and international flight bookings [8]. - The report highlights a strong demand for high-quality hotel bookings, with a year-on-year increase of over 20% for premium accommodations [8]. - Outbound travel is experiencing a surge, particularly to regions benefiting from visa-free policies, with booking numbers for destinations like Europe and North America showing substantial growth [8]. Summary by Sections Travel Trends - The report notes that the travel search volume for the upcoming holiday is expected to exceed 20% year-on-year [8]. - Domestic flight bookings have increased by 26%, while international flight bookings have risen by 15% [8]. Hotel and Accommodation - High-quality hotel bookings have seen a year-on-year increase of 58% [8]. - The demand for premium hotels continues to grow, with over 20% increase in bookings compared to last year [8]. Outbound Travel - Outbound travel bookings have increased significantly, with a 30% rise in visa service bookings for the National Day holiday [8]. - Specific regions such as Europe and North America have seen booking increases of 80% and 207% respectively, while Asian destinations have experienced a 380% rise [8].

Core Viewpoint - The South Korean government will implement a temporary visa exemption policy for Chinese group tourists starting from September 29, which is expected to significantly boost travel interest in South Korea among Chinese travelers [3]. Group 1: Policy Impact - The announcement of the visa exemption led to a 70% increase in search volume for flights to Seoul within half an hour, peaking at 1.2 times the usual rate [3]. - The average ticket price for flights from Shanghai to Seoul is reported to be 519 yuan, indicating a competitive pricing environment for travel to South Korea [3]. Group 2: Travel Trends - South Korea has consistently ranked among the top three most popular international destinations for Chinese travelers during the summer vacation period [3]. - With the new group visa exemption policy, the popularity of South Korea is expected to rise further in the second half of the year [3].