Hong Kong Stock Concept Tracking| During the Spring Festival of the Year of the Snake, inbound tourism orders increased by over 200%, benefiting the travel industry due to strong demand (including concept stocks)

The Spring Festival holiday is approaching, and the popularity of "Chinese travel" on social media remains high. The enthusiasm of foreign tourists visiting China is increasing, and inbound tourism is expected to be a highlight of the 2025 Spring Festival tourism market. With the continuous expansion of the "240-hour" visa-free policy and the expansion of the "visa-free circle" since 2024, inbound tourism continues to grow rapidly. Data from relevant platforms show that inbound tourism orders during the Year of the Snake Spring Festival increased by 203% compared to the previous year. On January 13, the General Office of the State Council issued a notice on "Several Measures to Further Cultivate New Growth Points and Prosper Cultural and Tourism Consumption," covering various aspects including stimulating the potential of cultural and tourism consumption, improving relevant policy environment, and optimizing inbound tourism policies. Citigroup believes that the above-mentioned documents and measures to increase public holidays indicate that tourism is a major direction for the government to promote the economy. Haitong pointed out that with the continued expansion of the "visa-free circle," the high growth of inbound tourism may become a major highlight of the 2025 Spring Festival tourism market. The booking volume on OTA platforms has significantly increased, and considering that the New Year holiday in 2025 is only one day and the release of the dividend of the visa-free policy for foreign tourists, the demand for travel is expected to be concentrated during the Spring Festival. CICC pointed out that the eve of the Lunar New Year in 2025 has been included in statutory holidays, increasing the holiday to 8 days. Based on current data, the longer holiday period can allow people to return home and take vacations at the same time, leading to strong demand for both domestic and cross-border travel. Hong Kong-listed companies in the tourism industry include TONGCHENGTRAVEL (00780), TRIP.COM-S (09961), China Tourism Group Duty Free Corporation (01880), and CHINA TRAVEL HK (00308).