Core Insights - The travel demand during the New Year holiday in 2026 was significantly boosted by a three-day holiday combined with a "take 3 days off for 8 days" vacation trend, leading to increased bookings for flights, hotels, and homestays [1] Group 1: Domestic Travel Trends - The domestic travel market during the New Year holiday exhibited a pattern of "short-distance micro-vacations + long-distance north-south exchanges," with short trips within city clusters like Beijing-Tianjin-Hebei, Yangtze River Delta, and Pearl River Delta being particularly popular [2] - Ice and snow tourism dominated the holiday, accounting for about 40% of the top 20 domestic flight routes, with popular routes including Shanghai to Harbin and Guangzhou to Harbin [2] - Hainan's tourism was significantly boosted by its island-wide customs closure policy, with a 76% increase in flight bookings to and from its three major airports during the holiday [2] Group 2: Cultural and Unique Experiences - Tourists are increasingly seeking out less crowded, unique destinations for New Year celebrations, with places like Wuyuan and Nanjing experiencing a surge in popularity due to special events like drone shows and cultural performances [3] - The Nanjing Niushoushan Cultural Tourism Area saw a 43.70% year-on-year increase in visitor numbers, showcasing the effectiveness of innovative product offerings and unique activities in attracting tourists [3] - Non-heritage themed tourism saw an 85% increase in search and booking activity during the holiday, with cities like Luoyang and Xi'an becoming top destinations for traditional cultural experiences [3] Group 3: Concert-Driven Travel - The trend of traveling to cities for concerts continued to rise, with cities like Guangzhou and Wuhan hosting major performances that attracted many fans, leading to increased hotel bookings in those areas [4] Group 4: Outbound Travel Growth - The "take 3 days off for 8 days" vacation model significantly increased outbound travel interest during the New Year holiday, with themes like "island summer" and "Nordic aurora chasing" becoming popular [5] - Emerging destinations such as Serbia and Georgia gained attention, with a notable increase in bookings for vacation products to these less conventional countries [5] Group 5: Demographics of Travelers - Young adults aged 25-45 and family units are the primary demographic for outbound travel, showing a willingness to pay for quality travel experiences and detailed itineraries [6]

Investment Rating - The industry investment rating is "Overweight" (maintained) [1] Core Insights - The 2026 New Year's Day holiday saw 142 million domestic trips in China, with total spending reaching 84.789 billion yuan, marking a 5.2% increase in trips and a 6.3% increase in spending compared to the same period in 2024 [2][5] - The "Please take 3 days off" strategy has become popular, allowing for an extended 8-day holiday, which has significantly boosted travel demand [2] - Young consumers, particularly those born after 2000, are driving a trend towards experiential and self-rewarding travel during the New Year, with notable increases in bookings for concerts and themed events [3] Summary by Sections Travel Demand and Spending - During the 2026 New Year's holiday, domestic travel reached 142 million trips, with total expenditure of 84.789 billion yuan, reflecting a 5.2% and 6.3% increase from 2024 respectively [2] - The average price for domestic economy class tickets reached 684.6 yuan, a 9.8% increase from the previous year [2] Consumer Trends - The report highlights a significant participation of younger generations in travel, with 39% of travelers being from the post-2000 generation and 33% from the post-1990 generation [3] - Concerts and events have become key attractions, with cities like Harbin and Zhuji seeing substantial increases in travel bookings due to major events [3] International Travel - There has been a notable increase in outbound travel bookings, with overall interest rising by over 30% compared to previous years [4] - South Korea remains the top international destination, while travel to Japan has seen a significant decline of 40.5% [4] Investment Recommendations - The report suggests focusing on popular travel destinations such as Changbai Mountain, Emei Mountain, and Tianmu Lake, as well as companies providing unique regional experiences like Songcheng Performance [5] - Companies benefiting from the recovery of inbound and outbound travel, such as China Duty Free Group, are also highlighted as potential investment opportunities [5]

1月4日，文旅部发布数据，元旦假期3天，全国国内出游1.42亿人次，国内出游总花费847.89亿元。同 日，国家移民管理局发布数据，2026元旦假期全国边检机关共计保障661.5万人次中外人员出入境，日 均220.5万人次，较去年同期增长28.6%。与此同时，新一轮国家补贴政策落地后，家电消费也呈现火热 态势。苏宁易购消费数据则表明，全国门店客流环比增长110%，家电3C市场迎来开门红。 在拼长假的强力驱动下，2026年元旦出境游的热度明显超越往年。同程旅行发布的《2026元旦假期旅行 消费报告》显示，"海岛过盛夏""免签国说走就走""南半球拥抱暖阳""北欧追极光"构成元旦假期出境游 四大热门主题，相关机票、酒店、跟团游、定制游等产品预订热度上涨迅速。 外国人来华规模进一步扩大免签政策激活外籍消费新动能 元旦假期三天，中国口岸迎来跨境人员流动高峰。国家移民管理局数据显示内地居民出入境336.5万人 次，较去年同期增长39.1%。外国人82.8万人次，较去年同期增长29.8%。入境外国人中，适用免签政策 入境29.2万人次，较去年同期增长35.8%。 2026年元旦假期落幕，文旅市场交出了一份亮眼的成绩单。 告 ...

Core Insights - The 2026 New Year's holiday saw a significant surge in domestic and outbound travel, with an estimated 590 million trips taken, reflecting a 19.5% year-on-year increase in travel volume [2] - The travel demand was driven by a combination of short trips within major city clusters and long-distance travel, particularly to popular destinations like Northeast China, Hainan, and Yunnan [3][4] - The winter travel trend, especially ice and snow tourism, dominated the holiday, with ice-themed destinations accounting for about 40% of the top domestic travel routes [4] Domestic Travel Market - The domestic tourism market experienced a robust start, with a notable increase in bookings for flights, hotels, and accommodations during the holiday [3] - Popular short-distance trips were prevalent among major city clusters, while long-distance travel to scenic areas like the Northeast and Hainan was also in high demand [3] - The rise of "prayer tourism" led to increased interest in mountainous scenic spots, with hotel bookings in these areas rising over 23% [3] Ice and Snow Tourism - Ice and snow tourism emerged as a leading theme during the holiday, with significant demand for flights to Harbin and other snowy destinations [4] - Harbin Ice and Snow World was particularly popular, with a 45% increase in bookings for day tours [4] - Other notable snowy destinations included Xiling Snow Mountain and Yulong Snow Mountain, which saw a rapid increase in visitor interest [4] Outbound Travel Trends - Outbound travel saw a marked increase, with popular themes including island vacations and destinations with visa-free entry [9] - Key short-haul outbound routes included flights from Shanghai to Singapore and Beijing to Seoul, while long-haul routes featured destinations like Moscow and Sydney [10] - The introduction of visa-free entry for Chinese passport holders to Turkey significantly boosted interest in travel to the country, with search volumes for flights to Istanbul increasing by 320% [10] Inbound Travel Growth - The inbound tourism market also showed strong growth, with ticket bookings increasing by over 110% during the holiday [11] - Popular destinations for inbound tourists included major cities like Shanghai and Beijing, with significant increases in bookings for experiential travel products [11] - The "duty-free shopping + beach vacation" model in Hainan attracted international visitors, with orders for Sanya increasing by 170% [11]

Group 1 - The report from Tongcheng Travel indicates a strong demand for travel during the New Year holiday, driven by the "take 3 days off and rest for 8" trend, leading to an increase in bookings for flights, hotels, and homestays [1] - There was an 85% increase in the search and booking of "intangible cultural heritage" themed tourism during the holiday, with Suzhou ranking among the top 10 popular destinations for such travel [1] - The trend of high-quality travel experiences is evident, with a significant rise in bookings for premium hotels, boutique homestays, and customized small group tours during the New Year holiday [1] Group 2 - The popularity of mountain scenic spots for New Year blessings has surged, with a more than 23% increase in bookings for hotels and homestays within these areas [2] - Young travelers are increasingly opting for beach destinations for New Year celebrations, with a 38% rise in bookings for boutique homestays featuring sea views [2] - Concerts by well-known artists during the holiday attracted many fans, leading to a noticeable increase in hotel bookings near concert venues [2] Group 3 - The heat for outbound travel during the New Year holiday has significantly surpassed previous years, with popular themes including island vacations and destinations with visa-free access [3] - Young adults aged 25 to 45 and family groups are the primary consumers of outbound travel, willing to pay a premium for detailed itineraries and immersive experiences [3] - The growth rate of outbound travel orders from non-first-tier cities is accelerating, with Turkey's visa exemption policy further simplifying travel for Chinese tourists [3][4]

Group 1 - The core point of the article highlights a significant increase in travel demand during the New Year's holiday, driven by the "please 3 days off for 8" trend, leading to a rise in bookings for flights, hotels, and homestays [1] - Major urban clusters are experiencing a surge in short trips and long-distance travel, with popular destinations including Northeast China, Hainan, Yunnan, Xinjiang, Sichuan, Fujian, and Guangxi [1] - The report indicates that the popularity of cultural heritage tourism has surged, with a notable 85% increase in searches and bookings for "intangible cultural heritage" themed travel during the New Year holiday [3] Group 2 - The report identifies top scenic spots for New Year's Eve, including Wuyuan Wunüzhou Resort, Wuxi Lingshan Scenic Area, and Nanjing Niushou Mountain Cultural Tourism Area, with significant increases in visitor interest [4] - Ice and snow tourism remains a dominant theme, accounting for approximately 40% of the top 20 domestic flight routes during the New Year holiday, with Harbin Ice and Snow World being a leading attraction [5] - The outbound travel market is experiencing a notable increase, with popular short and long-haul routes including Shanghai-Singapore and Beijing-Moscow, primarily driven by young adults and family travelers [8]

1月3日，同程旅行发布的《2026元旦假期旅行消费报告》(下称"《报告》")显示，三天连休小长假叠加 拼假一族掀起的"请3休8"浪潮，强力拉动元旦假期出游需求。同程旅行平台上，元旦假期前后机票、酒 店、民宿等主要产品预订呈量价齐升的局面。首个小长假供需两旺的发展势头，也为2026年文旅消费市 场繁荣增长开了一个好头。 《报告》显示，元旦假期核心城市群短途游与"南北互换"长线游交织并行。其中，京津冀、长三角、珠 三角城市群内短途微度假颇为火爆，冰雪游和避寒游两大经典旅游主题下，东北三省、海南、云南、新 疆、四川、福建、广西等包揽元旦长线游热门流向。 用户对跨年仪式感的追求，令元旦旅行消费"品质化升级"趋势愈发显著。同程旅行平台上，元旦假期高 品质酒店、精品民宿、定制小团等产品预订热度显著提升。"请3休8"拼假模式催热的东南亚、欧洲出境 游，进一步拉升了元旦假期整体客单价水平。 今年元旦，用户玩法也更加精彩纷呈。《报告》提到，海南全岛封关、"广德三件套"走红、《疯狂动物 城2》热映等超级热点接连涌现，带动元旦假期免税购物游、美食游以及影视旅游热度飙涨。 跨年的"N种打开方式" 当大批用户涌向上海迪士尼度假区、珠海 ...

Core Insights - The travel demand for the New Year's holiday in 2026 is expected to surge, with a 30% increase in bookings compared to the same period last year, driven by a significant rise in search interest for "New Year" and "cross-year" keywords, which increased over 280% in the past month [1] Group 1: Travel Trends - The report highlights two main travel trends: "ice and snow tourism" and "winter escape tourism," with users opting for short trips within 100-300 kilometers or extending their holidays for overseas travel [1] - Young users are increasingly focused on creating memorable experiences for New Year's Eve, with activities such as fireworks displays and concerts gaining popularity [2][3] Group 2: Popular Destinations - Theme parks are favored for New Year's celebrations, with top destinations including Beijing Universal Resort and Shanghai Disneyland, which features a special fireworks show [2] - There is a notable increase in flight bookings to popular ice and snow destinations like Harbin and Changchun, with ticket prices rising significantly as demand increases [4] Group 3: Accommodation Preferences - Users are showing a preference for hotels equipped with high-definition projection facilities for New Year's Eve celebrations, leading to a significant rise in bookings for specific room types [3] - In Sanya, hotel bookings are notably increasing, particularly for mid to high-end hotels, indicating a willingness to pay for quality accommodations with sea views and amenities [7] Group 4: International Travel - The "please 3 days off for 8 days" strategy is encouraging users to travel abroad, with a 30% increase in bookings for international travel products compared to previous years [8] - The introduction of visa-free policies for countries like Russia is expected to further stimulate outbound travel demand, with a 60% increase in flight bookings to Moscow [9]

Core Viewpoint - Russia has implemented a temporary visa-free policy for Chinese citizens, effective from December 1, 2025, to September 14, 2026, allowing stays of up to 30 days, which is expected to significantly boost tourism and business cooperation between the two countries [1][9]. Group 1: Impact on Tourism - The visa-free policy is anticipated to invigorate the local tourism market and increase tourism consumption in Russia [1]. - Following the announcement, flight searches to Russia surged over 8 times, and bookings increased nearly 5 times on major travel platforms [2]. - Popular destinations among Chinese tourists include Moscow, Murmansk, and St. Petersburg, with a notable increase in inquiries for group tours and experiential travel products [3]. Group 2: Travel Trends and Pricing - There has been a significant rise in travel bookings, with flight ticket reservations to Russia increasing by 190% and hotel bookings by 213% compared to the previous year [2]. - Some airlines are offering exceptionally low-priced tickets, with one-way flights from Guangzhou to Moscow priced as low as 646 yuan, although additional taxes and fees may apply [4][8]. - Travelers are advised to carefully review the terms and conditions associated with low-cost tickets, as they often come with strict restrictions [8]. Group 3: Economic Cooperation - The visa-free policy is expected to create new opportunities for bilateral economic cooperation, particularly in energy and large-scale consumption sectors [9]. - The recent trade data indicates a decline in trade volume between China and Russia, with a total import-export scale of 1.31 trillion yuan, down 8.7% year-on-year [9][14]. - The new investment agreement between China and Russia, effective December 1, aims to enhance investment protection and facilitate bilateral investments, which may further strengthen economic ties [14].

Core Insights - The 2025 Fliggy "Double 11" Global Travel Festival has officially launched, offering a wide range of travel products with unprecedented discounts and variety compared to previous years [1] - The number of travel products participating in the event has doubled year-on-year, with significant discounts on popular packages, including flights, hotel deals, and rental cars [1][2] - Fliggy is collaborating with Taobao to distribute millions of 88VIP expansion vouchers, enhancing the purchasing power for consumers during the event [1][2] Group 1 - The travel products available during this year's "Double 11" include discounted flight cards, hotel packages, and group tours, with prices starting as low as 300 yuan for flights to destinations like Bangkok and Osaka [1] - New offerings include the Shanghai LEGO Resort's double-entry tickets starting at 349 yuan and a nationwide car rental service featuring luxury electric vehicles [1] - The event marks the first time inbound travel products are included in the "Double 11" promotions, with substantial discounts available [1] Group 2 - Fliggy's 88VIP members will enjoy more benefits this year, including exclusive discounts on hotel packages from major brands like Marriott and Hilton, with some products offering free upgrades and additional perks [2] - The official live streaming events during "Double 11" will promote special offers and exclusive deals, allowing consumers to access significant discounts and participate in live giveaways [2] - The collaboration with various travel brands aims to enhance customer experience and loyalty through accumulated points and exclusive member benefits [2]