Core Insights - The expansion of domestic demand is essential for promoting high-quality economic development, with leisure consumption being a key component of this strategy [1][2] - The Chinese government has prioritized the recovery and expansion of leisure consumption through various measures, indicating a positive trend in the market [1][2] Leisure Consumption Market Recovery - Leisure consumption, particularly in tourism and sports, has shown a continuous recovery and growth trend, becoming an indispensable force in driving domestic demand [2] - Domestic tourism in China is projected to reach 5.615 billion trips and a total consumption scale of 5.75 trillion yuan in 2024, marking a significant recovery compared to 2022 [2] - The average spending per trip has increased to 1,024.04 yuan, with a notable rise in both the number of trips and total consumption compared to pre-pandemic levels [2] Impact on Related Industries - The recovery and expansion of leisure consumption positively impact various related industries, including transportation, accommodation, dining, shopping, and entertainment [3] - Leisure consumption has transitioned from being viewed as a luxury to becoming a necessity in the consumption structure of Chinese residents, making it a crucial part of the domestic demand strategy [3] Constraints on Leisure Consumption - Despite the positive recovery, several factors hinder the further expansion and quality improvement of leisure consumption, including weak consumer confidence and income growth [4][5] - The average annual increase in urban employment from 2022 to 2023 was only 1.3 million, significantly lower than pre-pandemic levels, affecting consumer spending [4] - The decline in asset values since 2021 has led to a "negative wealth effect," further suppressing consumer spending [4] Supply-Side Challenges - The leisure consumption market faces structural supply-side issues, including insufficient high-quality offerings and low levels of innovation [5][6] - There is a significant gap between consumer demands for personalized and high-quality experiences and the current market supply, which often consists of generic products [5][6] Consumer Experience and Trust Issues - The leisure consumption environment is marred by market irregularities, such as price gouging and misleading promotions, which undermine consumer trust [7] - Poor infrastructure and service quality in popular tourist destinations further detract from the overall consumer experience [7] Recommendations for Enhancing Leisure Consumption - Strategies to enhance consumer capacity and expectations include improving employment levels and income distribution through tax policies and social security systems [8] - Encouraging innovation in leisure products and services to meet diverse consumer needs is essential for market growth [9] - Optimizing the consumer environment by addressing market order and enhancing infrastructure will help build consumer trust [11] - Implementing flexible vacation arrangements can increase leisure time for residents, thereby boosting leisure consumption [12]