00308 CHINA TRAVEL HK
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CHINA TRAVEL HK News
The Shanghai Import Expo started yesterday and will be held for six consecutive days. Tourism Bureau: Will continue to consolidate Hong Kong as a world-class preferred tourist destination.
The Hong Kong Tourism Board announced that the 7th China International Import Expo was held in Shanghai for six consecutive days starting from yesterday (the 5th). The Tourism Board has been showcasing for the seventh consecutive year this year, demonstrating Hong Kong's diverse touristic features as an international metropolis, including in-depth travel, the charm of being a city of grand events, and how Hong Kong takes the lead in promoting the Greater Bay Area tourism brand together with other cities in the region. Mr. Dane Cheng, the Executive Director of the Tourism Board, stated that the Import Expo is an important platform for Hong Kong to showcase its unique city image and tourist attractions internally and externally. The authorities will continue to strengthen Hong Kong's position as a world-class premier tourist destination and as a hub for Greater Bay Area tourism, playing its role in connecting Hong Kong internationally.
Tourism Board: The number of visitors to Hong Kong in September increased by about 10% year-on-year, with a nearly 40% year-on-year increase in the first three quarters accumulated.
According to the Tourism Board, the number of visitors to Hong Kong in September is close to 3.1 million, an increase of about 10% year-on-year, with approximately half of them being overnight visitors. In the first three quarters of this year, the number of visitors to Hong Kong has increased by nearly 40% year-on-year, with mainland and non-mainland visitors to Hong Kong seeing respective increases of 35% and 59% year-on-year.
Tourism Board: This year, a total of 150 cruise ship visits to Hong Kong have been accumulated, and will continue to strive for each company to use Hong Kong as a homeport.
The Hong Kong Tourism Board stated that they have been making various efforts to attract different international cruise companies to arrange for their cruise ships to dock in Hong Kong or to use Hong Kong as a homeport. Among them, 3 international cruise ships visited Hong Kong yesterday and today (October 24th to 25th), bringing a total of approximately 8,000 tourists from Mainland China and over 30 countries and regions. The Tourism Board also mentioned that throughout the year, 30 cruise companies arranged for their cruise ships to visit Hong Kong, offering approximately 150 sailings. The authorities will continue to maintain close contact with cruise companies to attract different Mainland and international cruise ships to visit Hong Kong, bringing in more tourists to the city. (js/w)~
China's tourism consumer market is coming back with favorable timing, location, and people. Which areas are worth paying attention to in the future?
Recently, the government has introduced a series of heavyweight policies aimed at stimulating economic recovery, with a major focus on stimulating consumer spending. And within consumer spending, tourism consumption is an important sector.
China Resources Land and China Travel HK collaborate to deepen cooperation in tourism and other businesses.
China Resources Land and China Travel HK signed a cooperation agreement yesterday (22nd) aimed at deepening cooperation in tourism, property, and community services, to provide higher quality services for the residents of Hong Kong. China Resources Land will utilize the resources of China Travel HK to promote intangible cultural heritage products, and both parties will collaborate in areas such as office, meetings, and tourism, as well as explore overseas market development. This cooperation will fully leverage the resource advantages in their respective fields to achieve complementary advantages.
Eternal Travel: Opening at least 5 new branches in the fourth quarter, the tour business has recovered to about 70% of pre-epidemic levels.
Local travel agency Wing On Travel announced that it will open 4 new branches starting from the fourth quarter of this year, located in Tuen Mun, Kwun Tong, Quarry Bay, and Tseung Kwan O. In addition, a new branch will also be opened in the northern New Territories early next year, expected to increase the total number of branches in Hong Kong to 10. Leung Hong Lan, the director and CEO of Wing On Travel, revealed that the company will continue to expand according to market conditions in the future, indicating that the number of new store openings will exceed 5. At the same time, the company is considering doubling the workforce, with a budget for the entire store expansion plan exceeding a "seven-figure" amount. Wing On Travel General Manager Ma Sai Man also pointed out that although most customers currently prefer to order travel products online, they are also paying attention.
Hong Kong stock concept tracking | Tourism demand remains resilient, institutions bullish on OTA platform performance improvement (including concept stocks)
Before the 2024 National Day holiday, the cross-regional personnel flow of the whole society in the first 6 days is approximately 1.74 billion, an increase of 3.2% year-on-year, with overall demand remaining strong.
Where to: After the Double Ninth Festival, the proportion of elderly passengers exceeds 10%, and airfares have dropped to the lowest point of the year.
Gelonghui October 11th | The National Day holiday has ended, and the tourism market has entered the off-season. On the Qunar platform, from October 14th to 24th, the average payment price of domestic flights has decreased by more than 40% compared to the National Day period, even lower than the off-season in the first half of the year, reaching the lowest point of the year. From the perspective of flight bookings on Qunar, there has been a significant increase in bookings by elderly passengers after the National Day holiday.
Domestic Tourism Spending in China Rises 6% During National Day Holiday
China Merchants Securities: Slight increase in National Day travel, volume increase, price stability, and trend towards improvement.
China Merchants Securities released research reports stating that during the 2024 National Day holiday, domestic tourism visits increased by 5.9% year-on-year, domestic tourism revenue increased by 6.3% year-on-year. Overall, domestic income and visits during the National Day period are steadily improving. The average travel expenditure per person has already approached the level of the same period in 2019, and the overall travel data meets market expectations.
During this year's National Day holiday, mainland tourists' total expenditure on trips exceeded 700 billion RMB.
According to the datacenter of the Ministry of Culture and Tourism, during the National Day holiday for a total of seven days (October 1st to 7th), the number of domestic travelers in the mainland reached 0.765 billion person-times, a year-on-year growth of 5.9% based on comparable caliber, an increase of 10.2% compared to the same period in 2019. The total spending of mainland tourists was 700.817 billion yuan, with an annual growth of 6.3% based on comparable caliber, an increase of 7.9% compared to the same period in 2019.
Express News | citic sec: Tourism demand remains strong and differentiated demand blossoms in multiple areas
China International Capital Corporation: During the National Day holiday, various consumer data saw a significant year-on-year growth. Categories such as household appliances, gold, and jewelry showed impressive performance.
In 2024, the consumer data for the "Golden Week" have been successively released. Overall, with the strong support of national policies to promote consumption and stabilize the economy, various consumption data during the Golden Week have shown significant year-on-year growth, and also improved compared to the previous period.
Express News | Big data shows the vitality of consumer spending during the National Day holiday.
Hong Kong stock anomalies | Travel concept stocks continue to rise, the National Day holiday travel market is hot, the distribution of consumer vouchers is expected to accelerate the release of travel demand.
Travel concept stocks continue to rise. As of the time of publication, Ctrip Group -S (09961) rose by 6.9% to HK$542.5; China Tourism Group Duty Free Corporation (01880) rose by 5.17% to HK$75.3; China Travel HK (00308) rose by 3.57% to HK$1.16; and Tongchengtravel (00780) rose by 2.66% to HK$20.45.
tongchengtravel: The pre-National Day period saw a hotel booking popularity increase by over 1.3 times compared to the previous year.
Tongchengtravel data shows that during the first half of this year's National Day holiday, the travel heat of major popular tourist cities across the country remained high, with the travel heat in third-tier and below cities rapidly increasing. Historical sites, natural landscapes, and zoos and botanical garden scenic areas across the country are popular among tourists, with rapid growth in bookings for exhibition halls and pavilions, with booking heat more than doubling year-on-year. In terms of outbound travel, there is strong demand for travel to Hong Kong and Macau. Among them, the hotel booking heat in Hong Kong rose by 134% year-on-year.
Tourism sector under the expectation of a bull market: the industry is supported, with leading companies in the sub-sectors benefiting.
With the recent announcement of reserve requirement ratio cut and interest rate reduction, driving incremental funds into the market, a-shares in hk are expected to usher in a large bull market under policy guidance, and the tourism sector is also benefiting significantly from the large cap profit-making effect.
National Day travel prices have loosened! Domestic and international air ticket prices have dropped by about 20%. Some travel agencies have seen a nearly 30% year-on-year decrease in outbound tour prices.
1. Multiple travel agencies have stated that this year's National Day holiday travel prices have significantly loosened, with some travel agencies reporting a 20-30% decrease in overall outbound travel prices. OTA platform data shows a 20% year-on-year decrease in domestic and international air ticket prices. 2. The civil aviation market has added more flights, with some routes departing on the first day of the National Day holiday for China Southern Airlines selling out in advance. China Eastern Airlines has seen ticket reservations exceed 70% for multiple National Day departure routes as of September 28th.
Hong Kong stocks have been soaring for days on heavy volume, haven't jumped on board yet? These directions are still worth paying attention to.
In recent days, the heavy-duty policy bullish continues to catalyze, with large funds actively buying assets in China, and the market's bullish sentiment towards China has been fully ignited. Beneficiary sectors have already risen in advance. Lowering mortgage rates is bullish for consumer spending, with sectors like alcohol, gold, and jewelry taking the lead, while opportunities for biomedical and real estate stocks are worth looking forward to.
Klook: Some local tour product bookings have declined, always planned to go public but no definite timetable.
Local travel booking platform Klook's General Manager for Hong Kong and Macau, Samson Sze, noted a decrease in the booking volume of some local travel products, such as the sales of hotel staycation products being affected by Hong Kong people traveling abroad. He mentioned that the consumption pattern of Hong Kong people is currently changing, shifting from preferring expensive dining experiences to more affordable restaurant choices. As for the platform's outbound travel product reservations, there has been a significant increase, especially after Hong Kong people's retaliatory consumption from 2023 to 2024, so the current outbound travel product reservations have completely surpassed the levels of 2019. He also mentioned that Hong Kong people are now...
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