--- title: "Guolian Minsheng Securities: The willingness to travel during the May Day holiday continues, focusing on domestic demand opportunities supported by policies" type: "News" locale: "en" url: "https://longbridge.com/en/news/239278042.md" description: "Guolian Minsheng Securities released a research report stating that the willingness to travel during the May Day holiday remains high, with inbound and outbound tourism continuing to grow. The trend of domestic tourism is shifting towards younger demographics and lower-tier markets. It is expected that domestic tourism will steadily increase, and inbound tourism will continue to rise with policy support. It is recommended to pay attention to industries related to domestic consumption such as human resources, tourism, catering, and hotels, and to focus on companies like Beijing Renli and BTG Hotels. During the May Day holiday, there were 314 million domestic trips nationwide, a year-on-year increase of 6.4%" datetime: "2025-05-08T07:48:04.000Z" locales: - [zh-CN](https://longbridge.com/zh-CN/news/239278042.md) - [en](https://longbridge.com/en/news/239278042.md) - [zh-HK](https://longbridge.com/zh-HK/news/239278042.md) generator: "portal-rs" --- # Guolian Minsheng Securities: The willingness to travel during the May Day holiday continues, focusing on domestic demand opportunities supported by policies According to the Zhitong Finance APP, Guolian Minsheng Securities released a research report stating that the willingness to travel during the May Day holiday continues, with high growth in inbound and outbound travel, and trends such as the deepening of domestic destinations and the younger demographic of travelers persist. With new supply-side demands, structural changes in consumption on the demand side, and the release of consumption potential in the silver economy and sinking markets, domestic tourism is expected to grow steadily, while inbound tourism continues to grow under policy catalysis. Considering the changes in the domestic and international macro background and consumption environment, it is recommended to focus on industries related to domestic consumption such as human resources, tourism, catering, and hotels, with suggestions to pay attention to: Beijing Renli (600861.SH), BTG Hotels (600258.SH), China Duty Free Group (601888.SH), and Tongqinglou (605108.SH). ## The main points of Guolian Minsheng Securities are as follows: **Industry Events** The May Day holiday of 2025 has concluded, and various cultural tourism departments, transportation departments, and OTA platforms have successively released holiday cultural tourism consumption data. According to calculations by the data center of the Ministry of Culture and Tourism, during the 5-day holiday, there were 314 million domestic trips nationwide, a year-on-year increase of 6.4%; the total expenditure of domestic tourists was 180.269 billion yuan, a year-on-year increase of 8.0%. **Domestic Tourism: Cultural tourism heat reaches new highs, natural destinations remain popular** Combining data disclosed by the Ministry of Transportation and the cultural tourism heat disclosed by OTA platforms, the enthusiasm for residents to travel during the May Day holiday in 2025 remains strong. During the May Day holiday, the total inter-regional movement of people reached approximately 1.47 billion, an increase of 7.9% compared to the same period in 2024. Data from Meituan shows that the cultural tourism heat during the May Day holiday reached a three-year high, supported by favorable weather, consumption stimulation, and an increasingly rich array of cultural and entertainment products; at the same time, the "silver economy," younger and sinking customer demographics have provided a fertile ground for the growth of travel. According to data disclosed by the Ministry of Culture and Tourism, per capita consumption during the May Day holiday increased by 1.5% year-on-year. In terms of travel destinations, the popularity of historical and cultural as well as natural mountainous destinations remains high. During the May Day holiday, Huangshan Scenic Area received a total of 147,000 tourists, a year-on-year increase of 13.7%, setting a historical high for the same period; Jiuhua Mountain Scenic Area received 234,000 tourists, a year-on-year increase of 29.9%. **Inbound and Outbound: Cross-border travel heats up in both directions, visa-free and outbound tax refunds stimulate inbound consumption enthusiasm** Data from the National Immigration Administration shows that during the May Day holiday, border inspection agencies nationwide facilitated the entry and exit of 10.896 million people, with an average of 2.179 million people per day, a year-on-year increase of 28.7%. Ctrip's platform confirms that outbound travel orders on the first day of the May Day holiday showed double-digit growth year-on-year, while inbound tourism maintains a high growth momentum. Thanks to the optimization of visa-free and outbound tax refund policies, the growth rate of inbound consumption is impressive. Data from Alipay shows that in the first three days of the May Day holiday, inbound tourists' spending through Alipay increased by 180% compared to the same period last year, while WeChat data shows that the number and amount of transactions by foreign users in the country nearly doubled year-on-year. In addition to travel-related consumption, foreign tourists tend to purchase various "Made in China" products, including cultural and creative souvenirs, clothing, shoes and hats, and electronic products. **Industry Performance: Catering and alcohol consumption sink, service consumption growth trend is strong** Focusing on dining and wine consumption, the "County Tourism" is continuously releasing the consumption vitality of small and medium-sized cities. According to Meituan Travel data, during the May Day holiday, the booking volume of high-star hotels in county towns increased by over 80% year-on-year; as of May 5, the order volume for local specialty dishes from out-of-town tourists increased by over 105% year-on-year, becoming the hottest category. Duty-free shopping also showed positive momentum. According to data from Hainan Airport, both major airports in Hainan achieved year-on-year growth in passenger volume during the May Day holiday in 2025; from May 1 to 3, the Gongbei Customs under the Gongbei Port supervised the sale of 86,000 duty-free items, with a value of approximately 22.189 million RMB, representing a month-on-month increase of 26.6% and 42.3%, respectively. **Risk Warning** Risks of economic growth slowdown; risks of worse-than-expected weather; risks of intensified market competition beyond expectations, etc ### Related Stocks - [600861.CN](https://longbridge.com/en/quote/600861.CN.md) - [600258.CN](https://longbridge.com/en/quote/600258.CN.md) - [688688.CN](https://longbridge.com/en/quote/688688.CN.md) - [03690.HK](https://longbridge.com/en/quote/03690.HK.md) - [01880.HK](https://longbridge.com/en/quote/01880.HK.md) - [605108.CN](https://longbridge.com/en/quote/605108.CN.md) - [09961.HK](https://longbridge.com/en/quote/09961.HK.md) - [09988.HK](https://longbridge.com/en/quote/09988.HK.md) ## Related News & Research - [08:54 ETThe Lantern's Inclusive Staffing Model Drives Columbia's Top Guest Scores Six Months After Opening](https://longbridge.com/en/news/296231588.md) - [US, Jamaica Sign Status Of Forces Agreement To Fight Criminal Gangs, Narco-terrorists](https://longbridge.com/en/news/296606194.md) - [Slater & Gordon probes civil claim tied to alleged Sydney Swans sexual assault](https://longbridge.com/en/news/296658928.md) - [Planned Arctic Economic and Security Corridor All-Weather Road Positively Affects Sixty North Gold's Mon Gold Mine, NWT | SXNTF Stock News](https://longbridge.com/en/news/296360681.md) - [11:47 ETNorthwestern Mutual Named Among Nation's Top Independent Broker-Dealers by Financial Planning Magazine](https://longbridge.com/en/news/296250871.md) --- > **Disclaimer: This article is for reference only and does not constitute any investment advice.**