Guotai Junan released a research report saying that the residential sector's cash flow and balance sheet repair process is gradually beginning. As income levels rise, the share of service and travel consumption will increase structurally, and will become an important driving force for the recovery of consumption in the residential sector. The emphasis on developing the tourism industry at this time is to meet the high demand for services and tourism since 2023, and seize the opportunity to grow bigger and stronger. Looking at the peak season window from 2023, there is no shortage of will on the demand side of residents' travel. More restrictions come from vacation time and spending capacity. With the gradual improvement of relevant arrangements, demand-side constraints are expected to gradually improve.
国泰君安：旅游产业获高定位 有望推动优质供给建设与整合
Guotai Junan: The tourism industry is highly positioned and is expected to promote the construction and integration of high-quality supply
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