中日航空市场政策利好汇报

Summary of Conference Call on Japan-China Route Industry Overview - The conference call focused on the Japan-China aviation route and the impact of visa policy changes on travel demand between the two countries. [1][2][3] Key Points and Arguments 1. Visa Policy Changes: - Chinese government officials holding diplomatic passports may soon be able to enter Japan without a visa. [1] - Travelers with good asset records and previous visits to Japan may qualify for long-term multiple-entry visas. [2] - The easing of visa restrictions is expected to stimulate demand for travel to Japan from China. [1][3] 2. Travel Demand Recovery: - The demand for travel to Japan is anticipated to recover significantly, especially with the expected easing of visa policies. [3] - Pre-pandemic, the passenger volume on the Japan-China route was consistently growing at over 10% annually. [4] - Currently, Chinese travelers account for the largest share of foreign visitors to Japan, although their proportion has decreased from 30% pre-pandemic to 20% last year. [5] 3. Current Travel Statistics: - From January to October this year, travel from China to Japan has only recovered to 72% of pre-pandemic levels, while global travel to Japan has surpassed pre-pandemic levels, reaching 112% of 2019 figures. [5][6] - The number of Japanese visas issued to Chinese travelers last year was less than 40% of pre-pandemic levels. [6] 4. Airline Performance: - Major Chinese airlines have increased their capacity on the Japan route, with Spring Airlines becoming a significant player, surpassing other airlines in capacity growth. [7][8] - The top five airlines operating on the Japan route include China Eastern Airlines, Air China, and Spring Airlines, with Spring Airlines holding the highest capacity share among listed airlines. [10][11] 5. Market Dynamics: - The recovery of the Japan-China route is influenced by both the capacity of Japanese airports and the slower recovery of outbound travel demand from China compared to other markets. [6][19] - The demographic of travelers is shifting towards younger individuals, with a notable decrease in first-time visitors to Japan. [15][16] 6. Future Outlook: - The easing of visa restrictions is expected to boost travel demand significantly, with potential increases in both Chinese travelers visiting Japan and Japanese travelers coming to China. [20][21] - The overall recovery of the Japan-China route is projected to reach 80% of pre-pandemic levels by next year, with further growth potential as visa policies are relaxed. [21] Additional Important Insights - The conference highlighted the importance of understanding the changing demographics and travel preferences of Chinese tourists, with a trend towards more personalized and independent travel experiences. [15][16] - The potential for increased business travel due to the easing of visa restrictions for government officials was also noted as a significant factor in demand recovery. [18] This summary encapsulates the key discussions and insights from the conference call regarding the Japan-China aviation route and its recovery trajectory.