Loading...
Market
Will tourism-related stocks in China outperform the SSE Composite Index by end of Q3 2024?
5
China•Dragon Boat Festival•National Immigration Administration•Citigroup•Northwest China•Xinjiang Uygur Autonomous Region
Resolution / Starting Odds
Yes • 50%
No • 50%
Shanghai Stock Exchange
Story
China Sees 45.1% Surge in Cross-Border Travel with 5.752 Million Entries During Dragon Boat Festival
Jun 11, 2024, 04:48 AM
China experienced a significant increase in cross-border travel during the recent three-day Dragon Boat Festival holiday, with a 45.1% year-on-year rise in trips. The National Immigration Administration reported a total of 5.752 million entries and exits, averaging 1.917 million per day. This surge is attributed to China's proactive efforts to further open up its borders, with some indicators surging as much as 200 percent from last year’s levels. Despite the increase in travel, domestic tourism spending remained over 10% below 2019 levels, with some tourism-related stocks declining as Citigroup noted that travel demand was 'a bit weak.' Northwest China's Xinjiang Uygur Autonomous Region experienced a tourism boom during this year's Dragon Boat Festival.
View original story
Similar markets
Yes • 50%
No • 50%
Rise • 33%
Fall • 33%
Stable • 34%
Improvement • 50%
No Improvement • 50%
S&P 500 • 33%
NASDAQ • 33%
Dow Jones • 34%
Top performer • 25%
Above average • 25%
Average • 25%
Below average • 25%
Positive ROI • 33%
Negative ROI • 33%
Neutral ROI • 34%