旅游业的烟花有多绚烂，住宿餐饮业的锅底就有多冰凉。北京上半年游客量1.8亿人次同比增7.1%，旅 游花费3381亿同比增8.8%；上海入境游人数暴涨37.7%，韩国游客直接翻倍。但转头一看，北京住宿业 利润暴跌92.9%，上海餐饮业利润增速9.5倍竟是"丧事喜办"的障眼法。游客来了，钱花了，酒店餐馆却 集体哭穷——这魔幻现实，到底是哪里出了岔子？ 一、冰火两重天：旅游业狂欢背后的"利润绞杀" 当北京故宫门票预约秒光、上海外滩人挤人时，谁也想不到五星级酒店经理正躲在办公室算成本。北京 市文旅局的数据像打了鸡血：游客量1.8亿，旅游收入3381亿，数字漂亮得能当壁纸。但翻开住宿餐饮 业的账本，5135家限额以上企业总利润同比暴跌67%，其中住宿业更惨，1613家企业利润总额仅5980万 元，同比降幅92.9%——这意味着去年赚100块，今年只赚7块1，连给员工发工资都得倒贴。 上海更会玩"数字游戏"。二季度住宿餐饮企业利润同比暴涨9.5倍，乍一看以为老板们集体财富自由， 结果是一季度爆亏的窟窿没填上，只挑好看的数据喊口号。合并一季度后，上海住宿餐饮营收照样下跌 4.3%，利润增速从"9.5倍"秒变"勉强止血"。这 ...

Core Insights - The travel preferences of young people in China are shifting significantly towards independent travel, with 52.3% favoring free travel over traditional group tours, which only attract 26.8% of this demographic [3][6]. Group 1: Changing Travel Preferences - Young travelers are increasingly opting for personalized travel experiences, often planning their own itineraries and seeking unique destinations [5][8]. - The trend of "拼假" (combining vacation days) is prevalent among young people, allowing them to extend their holidays and explore popular destinations like Beijing, Shanghai, and Chengdu [3][6]. - A significant 55.3% of young people prefer immersive travel experiences, while 41.9% are interested in off-the-beaten-path locations [6]. Group 2: Industry Response - The tourism industry is adapting to these changes by designing more flexible travel products that cater to the desires of younger travelers, moving away from rigid itineraries [7][8]. - Companies are focusing on creating personalized travel experiences, including options for self-guided tours and unique accommodations, to meet the evolving preferences of their customers [9]. - Marketing strategies are shifting towards social media platforms popular with younger audiences, such as Xiaohongshu and Douyin, to better engage this demographic [9].

Core Viewpoint - The commercial property market in Hong Kong is experiencing a significant increase in transaction volume, particularly in the industrial and commercial sectors, while the retail sector shows a more stable growth in transaction volume but a decline in transaction value [1][6]. Transaction Volume and Value - In the first half of 2025, the retail market recorded 503 transactions, a year-on-year increase of 9.3% compared to 460 transactions in the same period of 2024 [6]. - Despite the increase in transaction volume, the total transaction value for the retail market was only HKD 59.26 billion, representing a year-on-year decrease of approximately 42.4% from HKD 102.91 billion [6]. Market Dynamics - The retail market is characterized by a "volume up, value down" trend, attributed to significant price declines in recent years, leading to large properties being sold at lower prices [1]. - The vacancy rate in the four core districts (Central, Causeway Bay, Tsim Sha Tsui, and Mong Kok) reached a four-and-a-half-year high of 12.1% in Q1 2025, an increase of 0.4 percentage points from six months prior [1]. Rental and Price Trends - The rental index for private retail buildings fell by 2.9% in the first five months of 2025, while the selling price index decreased by 3.2% during the same period [2][12]. - The overall commercial property prices are expected to decline by approximately 5% to 10% throughout 2025 due to ongoing market pressures [7]. Consumer Behavior and Market Adaptation - Changes in consumer habits, influenced by immigration trends and shifts in local demographics, have led to a decline in high-end retail expansion and an increase in the closure of chain brands [3]. - New and unique brands are taking advantage of the increased vacancy rates, with notable examples including a flagship store themed around soccer star Cristiano Ronaldo and a furniture store under Alibaba [3]. Future Outlook - The commercial property market is anticipated to maintain a stable transaction volume of around 1,000 transactions for the year, reflecting a year-on-year increase of about 5% [6]. - The ongoing "event economy" and upcoming major events are expected to attract more visitors to Hong Kong, potentially stabilizing the retail market [7].

(机遇香港)"五一"假期约110万人次旅客访港 同比增长22% 中新社香港5月6日电 (记者 戴梦岚)香港特区行政长官李家超6日出席行政会议前会见媒体时表示，中国 内地"五一"假期期间，共有约110万人次旅客访港，同比增长22%；其中，内地旅客同比增长约20%， 非内地旅客同比增长约30%。 5月6日，香港特区行政长官李家超出席行政会议前会见媒体时表示，中国内地"五一"假期期间，共 有约110万人次旅客访港，同比增长22%。 中新社记者 李志华 摄 来源：中国新闻网 他指出，5月2日访港的内地旅客最多，达到26.7万人次，同比增长约40%。当日，非内地旅客数量亦同 比增长约44%。大量旅客到访带动多个行业生意。 编辑：付健青 李家超表示，"五一"假期香港"丁财两旺"，带来信心和重大经济效益。他已要求特区政府文化体育及旅 游局和各相关部门，与业界总结经验，进一步优化各接待环节。 广告等商务合作，请点击这里 被问及内地旅客"特种兵式旅游"(特指一种高强度、高效率、低成本的旅游方式)新模式，李家超表示， 香港是"好客之都"，欢迎不同类型游客到访。特区政府和业界要适应游客旅游模式变化，让游客来到香 港感受到被欢迎，并 ...