The China Institute of Tourism Research (Data Center of the Ministry of Culture and Tourism) released the “China Tourism Group Development Report (2023)” at the “2023 China Tourism Group Development Forum”, predicting that the number of domestic tourists in 2023 will reach 5.407 billion yuan, and domestic tourism revenue will reach 5.2 trillion yuan, recovering to 90% and 91% in 2019, respectively.
According to estimates by the China Institute of Tourism Research, in the first three quarters of 2023, the national tourism economy performance composite index remained in the boom zone, with an average value of 111.09. Driven by multiple factors such as innovative supply of cultural and tourism systems, confidence boosted by tourism consumption policies, and comprehensive guarantees from various government departments at all levels, etc., the tourism market prospered in an orderly, integrated and innovative manner in 2023, and many indicators, such as the number of travelers and tourism consumption, performed brilliantly. Although the fourth quarter is a traditional off-season for travel, the willingness of urban and rural residents to travel remained at a high level of 90.37 in the fourth quarter of this year.
According to the report analysis, domestic tourism consumption is further concentrated in “three zones and one circle” of scenic spots, resorts, neighborhoods, and business districts, and tourist travel destinations and projects are more diversified. Family trips, suburban vacations, city tours, festival tours, interest travel, reverse tourism, night travel, and light sports form the “diversity+individualization” characteristics of the holiday tourism market.
Both supply and demand sides are making concerted efforts. All regions are scrambling to incorporate elements such as sports, music festivals, concerts, technology, intangible heritage, theme exhibitions, and national style Hanfu into tourism and leisure life, unlock new ways to enjoy tourism, promote deep integration of culture and tourism, and form new growth points for cultural tourism consumption.
Judging from the development of the industry, the prosperity of the tourism industry and the confidence of entrepreneurs have clearly rebounded. At present, the passenger flow of leading domestic scenic spots has increased markedly year on year, the aviation industry has improved markedly, the year-on-year recovery has improved markedly, and hotel performance has improved. In the first three quarters of this year, there was strong demand for financing from China's tourism groups, listed companies, and tourist attractions, mergers, acquisitions and restructuring, equity conversion, and short-term private equity.
According to the cultural tourism industry investment and procurement index jointly developed by the China Institute of Tourism Research and the China Amusement Park Association, out of the 1,836 companies surveyed, 79.2% of investment/operation companies and 46% of manufacturing/service enterprises carried out investment activities. This shows that entrepreneurs and managers are optimistic about the future of the tourism industry. The investment areas are mainly in the fields of theme park/amusement park construction, cultural tourism equipment, technology, resorts/neighborhoods, destination operations, etc.