Domestic tourism consumption meets 100 billion level incremental market in the second half of the year

 Domestic tourism consumption meets 100 billion level incremental market in the second half of the year

On July 24, the development and Reform Commission of Shandong Province and the Department of culture and tourism of Shandong Province issued the notice on reducing ticket prices of state-owned scenic spots in the whole province. It was mentioned that from August 1 to December 31, 81 State-owned scenic spots in the province had been reduced in price. Among them, 9 5A level scenic spots, except for legal holidays, all of them will be given a 50% discount on the basis of the original governments ticket price. For the remaining 72 National scenic spots, 20% discount will be implemented on weekdays and 50% off on weekends and statutory holidays.

What is more hard core than ticket discount is that some provinces have also implemented 2.5 days of small and long holidays and the issuance of travel vouchers and other measures. On March 19, Jiangxi Province issued the notice on boosting tourism consumption by playing a good combination of boxing. It was mentioned that all units in Jiangxi Province tried to work and rest flexibly for 2.5 days on weekends in the second quarter; 5a, 4A and 5A rural tourist spots in Jiangxi Province would give half price discount to tourists who entered the scenic spots on Friday afternoon; and electronic consumption voucher of love Jiangxi u00b7 healthy Tour was launched in the whole province.

According to the half month popularity report of trans provincial tourism recently released by Ctrip, as of July 30, 30 provinces and cities in China have announced the orderly opening of inter provincial group tourism since the Ministry of culture and tourism issued a notice on July 14 to resume cross provincial group tourism. At present, more than 4000 travel agencies have released domestic tourism products on the platform of Ctrip, which has doubled compared with that before the resumption of cross provincial team tour.

In response, Liu Xiangdong, deputy director of the Economic Research Department of China International Economic Exchange Center, said in an interview with Securities Daily that local governments introduced measures to stimulate tourism consumption in combination with their own actual situation, which would help the tourism market to accelerate the recovery of popularity, ignite the enthusiasm of consumers to travel, thus driving local tourism, accommodation, catering and other consumption.

Jieshiqi, senior manager of the stock research department of deppon fund, explained to the Securities Daily that the ticket price of scenic spots above 4A level in China is about 100 yuan. If a family of five people travel, only the ticket costs 5600 yuan, which is not a small expense. If the tickets of scenic spots are free or the price is greatly reduced, the passenger flow will be directly, quickly and effectively increased, which is also very important to promote the local economic growth.

Referring to how large-scale incremental market will domestic tourism consumption usher in in in the second half of the year with consumption replenishment and potential release, jieshiqi said that although the tourism industry in the first half of the year was one of the industries seriously affected by the epidemic situation, with the continuous improvement of epidemic prevention and control situation and the active introduction of relevant measures by many local governments to help the tourism industry recover, it is expected that the tourism consumption market in the second half of the year will be promoted It is expected to achieve rapid growth.

Jieshiqi further said, referring to the data of domestic tourism revenue reaching 2.78 trillion yuan in the first half of 2019 and 2.82 trillion yuan in the second half of 2019, and the recent good recovery of tourism markets in many places, it is expected that the year-on-year growth of domestic tourism consumption in the second half of the year will reach 20%, that is, an incremental market of 560 billion yuan. In addition, as the overseas epidemic is still spreading, outbound travel may continue to be limited in the second half of the year. Assuming that 50% of the nearly 74 million outbound tourists turn to domestic tourism in the second half of 2019, it is estimated that an incremental market of more than 33 billion yuan will be generated based on the domestic tourism consumption of 900 yuan per person time (domestic tourism income of 5.6 trillion yuan in 2019 / 6.04 billion person times of domestic tourists = 927 yuan). Based on comprehensive calculation, the domestic tourism consumption in the second half of the year will meet an incremental market of more than 593 billion yuan.

Source of this article: Yang Qian, editor in charge of Securities Daily_ NF4425