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2026-11-05 15:49:09 UBS published a research report stating that China's outbound travel demand remains resilient, but the recovery has become more selective. Overall travel frequency improved, mainly driven by consumers in first- and second-tier cities, while travel frequency in third- and fourth-tier cities declined. Trip duration and future travel intentions also slowed. Meanwhile, spending patterns shifted from non-essential categories such as shopping and entertainment to essential travel expenses such as air tickets and accommodation. The bank remains constructive on outbound travel volume, but expects consumers to become more budget-conscious. The report noted that outbound travel frequency among respondents in first- and second-tier cities increased from 2.3 trips to 2.5 trips over the past six months, while that in third- and fourth-tier cities fell from 2 trips to 1.8 trips, returning to 2019 levels. Average spending per trip fell about 15% YoY to RMB27,600, with a more significant decline recorded in third- and fourth-tier cities. The bank mentioned that Japan remains the preferred travel destination, but actual travel conversion rates weakened due to safety concerns, natural disaster risks and rising travel costs, while Hong Kong, Macau and Singapore maintained resilience among certain traveler groups. (sl/da)~ AASTOCKS Financial News Website: www.aastocks.com This article was automatically translated by AI, the Chinese version should be considered the authoritative version. AASTOCKS.com Limited does not guarantee its accuracy or completeness and accepts no liability for any damages or losses arising from the use of this translation. | |