Summary of China's Cultural Tourism Group Market Trends in March
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Editor-in-chief | Yang Ming
Source | Maidian Research Institute
Characteristics of tourism projects in March: This month's tourism project signings were concentrated in Guangdong, Fujian, and Jiangsu provinces, and construction started in Xinjiang Uygur Autonomous Region and Fujian. Fujian province signed (+4) and started construction (+4) for a total of eight projects. Cultivating new high-quality productivity in tourism, promoting high-quality development, and creating world-renowned tourist destinations, various places have made substantial responses.
1) Tourism Project Signing
In 2024, the tourism industry showed a vigorous development momentum, with many major projects signing and landing, injecting new vitality into the tourism market and pushing the industry to a higher stage of development. According to incomplete statistics, 79 new tourism projects were signed in March 2024.
2) Tourism Project Commencement
In 2024, the recovery of the tourism industry is steady, and tourism groups across the country are actively participating in a new round of construction boom. According to incomplete statistics, 48 new tourism projects started construction in March 2024.
Three major characteristics of tourism groups in March are as follows: 1. Shaoxing Tourism Group and Shandong Ocean Tourism Group had relatively frequent personnel changes this month; 2. This month, tourism groups and government departments continued to strengthen cooperation to promote the development of local tourism and enhance its quality and influence; 3. The equity changes of tourism groups in March showed a positive trend.
1) Personnel Appointments and Dismissals
According to incomplete statistics, there were a total of 13 personnel appointments and dismissals in March (6 appointments and 7 dismissals), a month-on-month increase of 85.71%, including 4 from Shaoxing Tourism Group, 6 from Shandong Ocean Tourism Group, 2 from Sanya Tourism and Culture Group, and 1 from Hainan Tourism Investment Group.
According to incomplete statistics, there were a total of 9 strategic cooperation projects for tourism groups in March, a month-on-month increase of 80%, covering "tourism + media" (Xi'an Tourism Group and Xi'an Press and Media Group), customer source introduction (Trip.com Group and Saudi Tourism Authority), health and wellness industry (Kanglv Group and Dali Yangbi County Government), and digitalization (Emei Mountain A and China Telecom Leshan Branch), etc.
According to incomplete statistics, there was a total of 1 equity change for tourism groups in March, a month-on-month decrease of 66.67%, and the equity change tended to be positive—equity release from pledge.
According to incomplete statistics from Maidian Research Institute, there were a total of 12 financing activities for tourism groups, a month-on-month increase of 100%, and the issuance amount was basically between 5 and 20 billion yuan, with those of 10 billion yuan or more accounting for 58.33%.
According to incomplete statistics, among the 2023 financial data of tourism groups in March, a total of 9 companies had year-on-year revenue growth exceeding 100%, among which Feiyang Group was significantly affected by the recovery of the Chinese tourism industry, with year-on-year growth of 598.65% in sales of tourism-related products and services in 2023, reaching 534 million yuan; a total of 10 companies had year-on-year net profit growth exceeding 100%, among which Lijiang Shares (5971.91%) had the highest year-on-year growth, mainly related to the following sectors—Lijiang Shares' three cable cars received a total of 6.1211 million tourists, a year-on-year increase of 4.1821 million, an increase of 215.67%; Impression Lijiang performed a total of 739 shows, a year-on-year increase of 462 shows, an increase of 166.79%, receiving a total of 1.56 million tourists, a year-on-year increase of 1.2598 million, an increase of 419.57%; Longyue Catering received a total of 670,200 tourists, a year-on-year increase of 517,000, an increase of 337.56%. Lijiang Hefu Hotel Co., Ltd. achieved operating income of 148 million yuan, a year-on-year increase of 61.631 million yuan, an increase of 71.74%, and net profit of 3.6834 million yuan, a year-on-year increase of 120.38%.
China Tourism Association Activity Cooperation: 18810272514
