Gelonghui, Feb. 19 | Citi published a report saying that the tourism industry was very dynamic during the Chinese New Year Golden Week this year. According to the Ministry of Culture and Tourism, local tourism figures and revenue were 474 million and 632.6 billion yuan respectively, up 19% and 7.7% respectively from before COVID-19 in 2019. The bank believes that, based on changes in the macroeconomic environment and tourism models, per capita tourism consumption has fully recovered demand. The bank also said that sales at duty-free shops in Hainan were stronger than expected during the period, totaling 2.4 billion yuan, with an average daily sales of 311 million yuan. The recovery in overseas travel continues, and the number of cross-border visitors has reached 90% of the pre-epidemic level in 2019. The bank maintains a positive view on the structural growth of China's tourism industry, and believes that experiential consumption of leisure and travel will continue to advance in the industry. The bank favors Huazhu, China Free, and Samsonite in China's travel stocks, all with a “buy” rating. The target prices are HK$47, HK$144.5, and HK$33.5, respectively.