2026 China Cultural Tourism Group Ecosystem Report: 1,100 Groups and the Shift to Operational Effic…

Key points

• As of September 2026, China had 1,100 cultural tourism groups; state-owned entities accounted for 83.36%, with county- and city-level groups making up nearly three-quarters.
• The 45 state-owned groups showed revenue pressure and profit divergence in H1 2026, with provincial platforms large in scale but low in net margin.
• The five groups with revenue above RMB 10 billion totaled RMB 119.672 billion, 69.9% of sample revenue, indicating concentrated leadership and a clear gap.
• The 16 provincial groups posted combined revenue of RMB 93.144 billion but only RMB 172 million in attributable net profit, a 0.18% net margin, with eight loss-making.
• Scenic-area listed platforms led on profit quality: Zhangjiajie's attributable net profit rose 1026.80% year on year and Changbaishan Tourism 161.84%.
• Seven of eight county-level samples were profitable; Jimo District Tourism Investment's revenue and attributable net profit grew 36.44% and 45.22% respectively.
• The report proposes provincial groups shift to industrial operation and capital platforms, city groups upgrade to destination operators, and county groups focus on single points.
• Trends include a shift from scale to detailed accounting, competition moving from single scenic spots to destination ecosystems, and dual dividends from inbound facilitation and digitalization.