To what extent will domestic tourism recover this year? Latest forecast →

To what extent will domestic tourism recover this year? Latest forecast →

Recently, china tourism academy released "Analysis of Tourism Economy Operation in the First Half of 2023 and Trend Prediction in the Second Half of 2023". The report analyzes the operation of tourism economy in the first half of the year from the aspects of market situation, industry and policy, and points out that the tourism economy has steadily entered the upward channel of "booming supply and demand, accelerating recovery" in the first half of the year.

In the first half of the year, the comprehensive index of tourism economic operation has returned to the boom zone. From the five holidays of New Year’s Day, Spring Festival, Tomb-Sweeping Day, May Day and Dragon Boat Festival, the number of tourists and tourism income recovered well, especially during May Day, which ushered in a turning point in the market.

In the first half of the year, the high-speed rail tickets on popular routes were sold out quickly, and it was hard to get a ticket for hot spots and a room for key tourist cities, which made practitioners see their confidence in growth.

From the perspective of sub-groups and sub-markets, it is worth paying attention to the holiday and weekend passenger flow, which is mainly composed of college students, young professionals and family parent-child customers, as well as the non-holiday passenger flow, including retired employees’ recreation travel and primary and secondary school students’ study travel. It is expected that this trend will continue in the second half of the year.

From the perspective of tourists’ satisfaction, it is basically stable in the satisfaction range, but because the supply chain repair has not kept up in time, there have been some low-priced groups or group desertions in the local area.

From the perspective of outbound travel, the backlog of outbound demand for more than three years has been released in a centralized manner, which has continued until now. However, the flow, flow and business model of outbound tourism have changed greatly compared with before the epidemic.

From the perspective of inbound tourism, the group tourism business between the Mainland, Hong Kong, Macao and Taiwan has been fully restored, the visa application for international tourists to China has been liberalized, and the travel agency’s group tourism business for Taiwan Province residents to the mainland has resumed, and the policy restrictions on inbound tourism have all been opened. But at present, inbound tourism is still facing the problem of supply chain repair.

Judging from the comprehensive operation index, the entrepreneur confidence index has been significantly boosted. Judging from the financial reports of 33 listed companies in the first quarter, the overall recovery of the industry is remarkable, and nearly 40% of enterprises have recovered to or exceeded the pre-epidemic level.

In addition, the national tourism investment has picked up, and many provinces such as Beijing, Anhui, Gansu and Jiangxi have issued lists of major projects. In the first half of the year, there were nearly 150,000 newly registered travel-related enterprises nationwide.

The report predicts that, based on the trend of macroeconomic policies, residents’ willingness to travel, entrepreneurial confidence and other leading indicators, it is estimated that the total number of tourists in China will reach 5.5 billion this year, and the domestic tourism revenue will reach 5 trillion yuan, which will be restored to 90% and 80% respectively in the same period of 2019.

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