China Tourism Group Duty Free Corporation (01880) rose more than 3% against the market, and as of the time of writing, it rose by 3.42% to HKD 54.50 with a turnover of HKD 23.5247 million.
According to the Wisdom Wealth News APP, China Tourism Group Duty Free Corporation (01880) rose more than 3% against the market, and as of the time of writing, it rose by 3.42% to HKD 54.50 with a turnover of HKD 23.5247 million.
On the news front, on July 24th, Tuniu Travel released the "Tuniu Travel Consumer Report for the First Half of 2024". Since this year, China's visa-free "circle of friends" has continued to expand. The visa-free policy has greatly simplified the entry process for foreign tourists, reduced the threshold for tourism, and attracted more and more foreign tourists to China. In addition, the implementation of the 72/144-hour visa-free transit policy and the improvement of entry convenience have significantly improved the development of the inbound tourism market. The report shows that outbound travel users' travel volume in the first half of the year increased more than three times year-on-year, and nearly 75% of tourists chose outbound short-term tours. With the increase in the number of open destinations, the popularity of long-term outbound tours has grown significantly, and the number of travelers has increased by more than four times year-on-year.
Citic Securities released a research report stating that the domestic tourism demand during the summer is expected to be stable, and the demand for outbound tourism continues to recover with the resilience of leisure travel consumption. Looking forward to the second half of 2024, the trend of "tourism enthusiasm" and "affordable choices" is still clear, and the configuration rhythm suggests that the sector's revenue performance in 2024 may form a U-shaped growth compared to the high base of the second quarter and third quarter of 2023.