On August 27th, Ctrip Group announced its unaudited financial performance for the second quarter of 2024. According to the financial report, in the second quarter of 2024, cross-border tourism had a significant driving effect, with Ctrip's overseas platform revenue increasing by 70%. As of 11:30 am on the same day, Ctrip Group's Hong Kong stock market rose by over 11%.
Cross border tourism is a major highlight of the tourism market and has also driven significant growth in Ctrip's business. According to the financial report, in terms of outbound travel, Ctrip's outbound hotel and flight bookings fully recovered to the same period in 2019 in the second quarter of 2024. In terms of inbound tourism, various entry facilitation measures have driven the China Travel craze. Ctrip's inbound tourism bookings in the first half of this year increased nearly twice year-on-year, and the inbound tourism business contributed 25% of Ctrip's overseas platform revenue. Combined with the development of Ctrip's overseas business in local markets such as Southeast Asia, Japan, South Korea, Europe, and America, the revenue of Ctrip's overseas platform in the second quarter increased by about 70% year-on-year.