Huatai Securities: Spring and Qingming Holidays Boost Travel Demand

Deep News04-07

Huatai Securities Co., Ltd. research indicates that the combination of spring break and the Qingming holiday has concentrated the release of residents' travel demand. The average travel radius has expanded significantly year-on-year, with self-drive trips dominating. Data shows that cross-regional population movement from one day before the Qingming holiday to the second day of the holiday increased by 9.7% and 3.2% compared to the same periods in 2024 and 2025, respectively. According to Ministry of Transport statistics, passenger flows via railway, waterway, highway, and civil aviation increased by 10.4%, 17.5%, 2.6%, and 4.1% year-on-year, respectively. Non-commercial passenger vehicle traffic on expressways and ordinary national highways rose by 2.8% year-on-year, accounting for over 80% of total passenger flow. Car rental, as an important travel method for spring outings, continued its structural growth: data from Shenzhou Car Rental shows that during this year's Qingming holiday, the number of car rental reservations nearly doubled year-on-year, while cross-city rental bookings surged by nearly 2.5 times. Data from Flight Master indicates that the average price of domestic air tickets during the Qingming holiday increased by 11.7% compared to the same period last year.

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