Many listed tourism companies in China have moved back into the black, their first-half financial reports showed, and industry insiders said that's no surprise because domestic and international travel have rebounded significantly this summer.
Most of the 21 listed tourism companies reported profits in the first half of 2023.
China CYTS Tours Holding Co, for example, said on Friday that its interim net profit was about RMB 108 million (USD 15.06 million), up 152.67% year-on-year.
Changbai Mountain Tourism Co estimated a net profit of RMB 12.25 million, up 117.09% year-on-year. Lijiang Yulong Tourism Co projected a net profit of RMB 110 million to RMB 130 million.
The 2023 summer travel performance is expected to exceed that of 2019. As of mid-June, the number of domestic family trips had increased by seven times from 2022, as shown in a survey targeting China's summer tourism industry revealed by online travel platform Trip.com.
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