Since this year, the popularity of Hong Kong and Macao residents traveling north has continued to heat up, and the trend of “mutual travel” between Guangdong, Hong Kong and Macao in the Greater Bay Area is remarkable.
On April 9, Tongcheng Travel released a report showing that in the first quarter of this year, the number of searches for travel products in major cities in Guangdong increased nearly 300 times over the same period last year, and Hong Kong ranked among the top five tourist destinations in Guangdong, such as Guangzhou, Shenzhen, and Zhuhai.
During the Qingming holiday, bookings for key scenic spots in Guangdong from Hong Kong and Macau increased 158% year over year, while bookings for Hong Kong and Macau attractions from Guangdong increased 322% year over year.
According to data from the Ministry of Transport, during the Ching Ming Festival holiday in the mainland (April 4 to 6), the average number of people moving across regions across the country was 250 million, an increase of 56% over the previous year. Compared with the same period in 2019, it increased 21%. The recovery situation was slightly worse than the Lunar New Year holiday.
However, according to data from the Ministry of Culture and Tourism, the number of domestic travelers within 3 days of the Ching Ming Festival holiday was 119 million, an increase of 11.5% over the same period in 2019. Domestic tourists spent 53.95 billion yuan on travel expenses, an increase of 12.7% over the same period in 2019. The recovery in tourism revenue reached a new high, and for the first time, per capita spending exceeded the same period in 2019, reflecting the resilience of domestic travel consumption demand.
According to “Radio Macau”, the Macau Security Police announced that there were 2.125 million visitors entering and leaving Macau during the Easter and Ching Ming holidays, including 1.551 million inbound visitors and 1.073 million outbound visitors, mainly through the border gates and the Hong Kong-Zhuhai-Macao Bridge.
According to a research report released by CICC, industry data shows that leading OTA platforms Ctrip Group-S (09961) and Tongcheng Travel (00780) app users performed well. On the eve of Qingming, the number of daily active users of Ctrip and Tongcheng DAU increased by 32% and 145%, respectively, compared to the same period in 2019.
Companies related to the travel concept:
OTA platforms: Ctrip Group-S (09961), Tongcheng Travel (00780)
Macau segment: MGM China (02282), Wynn Macau (01128), Sands China (01928), Aobo Holdings (00880), Galaxy Entertainment (00027)
Hotel: Huazhu Group-S (01179): On February 21, Huazhu Group released data showing that it received more than 7.35 million visitors during the 2024 Spring Festival holiday, 2.3 times the number of visitors during the Spring Festival holiday last year. The hotel occupancy rate increased by more than 20 percentage points over last year's Spring Festival holiday, and nearly 12 percentage points higher than the 2019 Spring Festival holiday hotel occupancy rate according to a comparable scale.