① Hong Kong travel concept stocks have been popular for several days. What are the benefits driving the sector market? ② Tourism consumption potential has been verified. What do organizations think?
Financial Services Association, December 2 (Editor: Feng Yi) Today, the Hong Kong stock tourism economy concept is collectively popular. Short-term popularity continues to rise, and market attention has also increased.
As of press release, today Meilan Airport (00357.HK) surged nearly 13%, many catering stocks such as Xiabuxiabu (00520.HK) and Jiumaojiu (09922.HK) rose more than 5%, China Free (01880.HK) rose nearly 4%, followed by Huazhu Group-S (01179.HK) and Galaxy Entertainment (00027.HK).
According to the news, various policies and fundamentals relating to the tourism industry have continued to be favorable recently.
On November 30, China piloted a visa-free policy for 9 countries including Japan. According to Ctrip data, on the first day of the trial of the visa-free policy, the number of visitors entering the nine new visa-free countries increased by 104% year-on-year. Among them, the number of inbound Japanese tourists increased by 107% year over year.
Notably, that day also coincided with the first anniversary of China's implementation of a unilateral visa-free policy for six countries, including France, Germany, Italy, the Netherlands, Spain, and Malaysia.
Data show that in the past year, Yunnan Mohan Port has inspected and released more than 5,500 inbound and outbound travelers from six countries, an increase of 294.28% over the previous year. Among them, there were 2,280 visa-free inbound visitors, accounting for 77.24% of the total number of inbound visitors. The effectiveness of the policy was verified.
On the other hand, Macau's gross revenue in November was 18.44 billion yuan, up 14.9% year on year, and higher than the market's forecast of 13%, which supports the investment logic of a recovery in the popularity of travel consumption. Furthermore, consumer vouchers are still being issued in many parts of the country recently, and it may be expected that the demand for travel consumption will be further boosted in the future.
On November 27, the “2024 China Nighttime Economic Development Report” released by the China Institute of Tourism Research shows that the current demand for nighttime tourism continues to rise, and the total domestic nighttime travel expenses are expected to reach 1.91 trillion yuan in 2024, an increase of 21.7% over the previous year.
In addition, according to reports from Haitong Securities analysts Liang Zhonghua and Li Linzhi on December 1, the Hainan tourist price index for the 4th week of November was 105.5, up 5.5% from season to month. The price index is still the highest in the same period of the year. Among them, prices for transportation, lodging, specialty travel, shopping, and catering rose, while other categories remained flat or declined.
Furthermore, Hong Kong's Financial Secretary Paul Chan Mo-po published the Secretary's essay on December 1 stating that the resumption of arrangements for registered residents of Shenzhen to apply for “one visa, multiple travel” individual travel endorsements to Hong Kong not only supports local tourism, retail, catering and other related industries, but also promotes more convenient and unobstructed two-way exchanges between Hong Kong and Shenzhen personnel.
Paul Chan Mo-po said that from this year to the first half of next year, Hong Kong's local airlines will also add flights to Xining, Zhoushan, Huangshan in the mainland, Vientiane in Laos, Dallas in the US, and Hyderabad in India.
Open source securities analyst Chu Min also analyzed in an earlier report that favorable policies at the top level have been frequent recently, including many major initiatives such as supporting the development of snow and ice tourism and extending public holidays. The policy trend of promoting consumption and expanding domestic demand using the tourism economy as a starting point can be traced, and the status of the tourism industry as an emerging strategic pillar industry has been further clarified.
Looking at the recent Hong Kong stock market, the Hang Seng Index has some downward support, and short-term popularity remains active.
In the context of the current shift in market focus to the December Central Economic Work Conference, the tourism economy, as an industry sector with little increase before, is currently recovering, structural opportunities are prominent, and it is also expected to benefit from consumer stimulus policy expectations.
