In September, the growth of the European and American tourism markets slowed down, while the Asia-Pacific market rebounded.
September 2026 Asia (China) Cultural & Tourism Overview
01 Global Tourism Industry Development Trends
In September, the European and American tourism markets ended the summer peak season and entered the autumn cultural and leisure off-peak season. Passenger flows in traditional coastal destinations declined, while demand for urban cultural tours, short-distance mountain trips, and high-end off-peak vacations remained resilient. Inbound passenger flows across countries showed divergent trends, and the overall growth rate slowed down significantly compared with the June-August summer period.
In the United States, the 20 largest overseas source markets recorded 17.75 million inbound visitors from January to September, down 4.7% year-on-year, with the European market being the region with the most concentrated decline. According to the 2026-2030 international visitor forecast released by the National Travel and Tourism Office (NTTO) of the U.S. Department of Commerce, the total number of international visitor arrivals for the whole year is expected to reach 70.5 million. September is the traditional transition period between summer and autumn in the U.S., with the Labor Day holiday driving domestic short-distance trips and surrounding inbound passenger flows, while the number of long-haul transoceanic tourists has dropped significantly compared with the World Cup summer peak from June to August. In terms of festivals and cultural tourism activities, many regions in the United States launched the autumn cultural tourism season in September. The preparation for the International Balloon Festival in New Mexico started. Eastern cities such as New York and Boston launched autumn-themed historical and cultural tour products. The series of celebrations for the 250th anniversary of the founding of the United States shifted from large-scale centralized activities to small local historical exhibitions, which continued to attract cultural international visitors.
In Canada, there were 5.3 million international inbound visitors in September, up 9.5% year-on-year. Overseas air arrivals and business travel became the core growth engines. Preliminary border data from Statistics Canada shows that Canada received a total of 5.3 million international inbound visitors by air and land in September, up 9.5% year-on-year. The growth of overseas air arrivals is particularly significant, mainly benefiting from strong transatlantic business travel and conference activities in Toronto and Vancouver; same-day car travel from the United States has also rebounded, reflecting the weakening of the Canadian dollar and the return of cross-border shopping activities. Data from the Greater Toronto Airports Authority shows that the load factor of premium cabins on core North American business routes reached 78% in September, 5 percentage points higher than in 2019, indicating that corporate travel and face-to-face meeting activities are recovering substantially.
In Spain, 9.7 million international tourists were received in September, up 0.8% year-on-year, with consumption reaching 13.364 billion euros, up 6% year-on-year. The consumption growth rate significantly outpaced the growth rate of tourist arrivals. Data from the National Statistics Institute of Spain (INE) shows that there were 9.7 million international tourists in September, up 0.8% from September last year; international tourist consumption reached 13.364 billion euros, up 6% year-on-year. From January to September, the total number of international tourists received reached 76.5 million, up 3.5% year-on-year, hitting a record high for the same period in history, with cumulative consumption of 105.828 billion euros, up 7% year-on-year, also setting a new record. The per capita consumption in September was 1,455 euros, basically the same as the previous year, and the daily average consumption was 202 euros, up 1.9% year-on-year. The consumption growth is mainly driven by the extension of stay time and the increase in daily expenditure, rather than the simple expansion of passenger flow.
02 Asia-Pacific (China) Market Tourism Development Trends
In Australia, September marks the beginning of spring, and the popularity of domestic natural landscape destinations has rebounded. The tourism sector has focused on promoting long-distance source markets, and bookings for outbound trips from the Chinese market during the National Day holiday have risen significantly. According to September monitoring data from the Australian Bureau of Statistics, the number of short-term inbound tourists for the full 2025-26 fiscal year was 9.1 million, up 8.3% year-on-year, maintaining growth for five consecutive years, but still lower than the peak level of the 2018-19 fiscal year. The number of short-term inbound tourists in September rose slightly month-on-month, with bookings from Chinese tourists among long-distance source markets driving significant growth. Domestic travel costs and accommodation prices remain constraints that inhibit further expansion of passenger flow. Tourism Australia continues to promote global brand promotion, focusing on promoting spring natural scenery, self-driving routes and winery vacation products to the Chinese market, making supporting preparations for receiving tourists visiting Australia during the National Day holiday. Hotel bookings in Melbourne, Sydney and Gold Coast have increased month-on-month.
In Malaysia, international inbound passenger flows steadily recovered in September, relying on geographical advantages to undertake regional short-distance source markets, while cultural tourism projects and route expansion were promoted simultaneously. Data from the Ministry of Tourism, Arts and Culture of Malaysia shows that about 2.26 million international tourists were received in September, up 12.1% year-on-year; the cumulative number of inbound tourists from January to September reached 17.12 million, completing 71% of the annual target. Singapore, China and Indonesia rank as the top three source markets. Benefiting from the increase in cross-border flight capacity, the number of Chinese travel bookings to Malaysia rose rapidly in mid-to-late September, with strong demand for island vacation and urban leisure products. Malaysia continues to optimize inbound facilitation measures, expand the scope of application for electronic visa-free registration, and at the same time increase publicity and promotion of cultural heritage and ecotourism products to divert passenger flows from traditional coastal destinations.
In Thailand, the inbound market gradually warmed up in September, with pre-arranged marketing campaigns launched in advance for China's National Day Golden Week, and the tourist source structure continued to adjust. Data released by the Ministry of Tourism and Sports of Thailand shows that a total of about 21.62 million foreign tourists were received from January to September, down 2.8% year-on-year, and tourism revenue was about 1,045 billion baht. China returned to the top source market, with a total of about 3.642 million Chinese tourists visiting Thailand from January to September; Malaysia, India, Russia and South Korea ranked second to fifth respectively. The inbound passenger flow in September rose month-on-month, mainly due to pre-booked long-haul Chinese tourists. The Tourism Authority of Thailand launched a series of preferential activities, focusing on promoting cultural tours in Chiang Mai and island vacation products in Phuket. It is predicted that there will be a concentrated arrival of Chinese tourists during the Mid-Autumn Festival and National Day holiday, and it is expected that about 250,000 Chinese tourists will be received during the holiday, bringing tens of billions of baht in tourism revenue.
In China, cross-regional personnel movement during the Mid-Autumn Festival holiday in September reached 643 million person-times, and the number of inbound and outbound personnel between China and foreign countries reached 6.709 million person-times. Data from the Ministry of Culture and Tourism shows that the total cross-regional personnel movement of the whole society during the three-day Mid-Autumn Festival holiday (September 25-27) was 643.161 million person-times, with an average daily of 214.387 million person-times, an increase of 2.2% compared with the Mid-Autumn Festival holiday last year. At the policy level, the Ministry of Culture and Tourism officially issued the "15th Five-Year Plan" for the Construction of a Tourism Power in September, proposing to improve the whole-chain facilitation measures for inbound tourism, optimize visa-free policies, expand international routes, and improve supporting services for inbound payment and foreign language services. Data from online travel platforms shows that the number of inbound tourism product bookings in September maintained a high year-on-year growth, and overseas tourists prefer cultural experiences and in-depth county tours; the departure tax refund business continues to grow, and the consumption scenarios of inbound tourists have expanded from traditional sightseeing and shopping to multiple categories such as intangible cultural heritage experience, health care, and study tours.
03 Senior Management Personnel Changes in Cultural Tourism Groups
In September, according to the ABN Cultural Tourism Brand Monitoring List, 10 cultural tourism enterprises had important personnel changes.
Zunyi Transportation and Tourism Investment Group: Tuo Bicai was appointed as Director and General Manager of Zunyi Tourism Industry Development Group and Zunyi Transportation and Tourism Investment Group. On September 4, the Zunyi Municipal Government issued a notice on job adjustment, nominating Tuo Bicai as the candidate for Director and General Manager of Zunyi Tourism Industry Development (Group) Co., Ltd. and Zunyi Transportation and Tourism Investment (Group) Co., Ltd., suggesting that Wang Hang no longer serve as the General Manager of the two companies.
China Travel Service (Hong Kong) Group: Shi Dai was appointed as Chairman of China Travel Service (Hong Kong) Group Co., Ltd. On September 11, China Travel Service (Hong Kong) held a meeting of middle-level management personnel. The Organization Department of the Central Committee announced the appointment and removal decision, appointing Shi Dai as Chairman of China Travel Service (Hong Kong) Group, removing her from the positions of Director and General Manager of China Merchants Group, and the relevant procedures will be handled in accordance with the company's articles of association and legal procedures.
Huangshan Tourism: Zhang Dehui resigned as Chairman, Jiang Mao was appointed as Chairman, and Fang Yingjian was appointed as President. On September 10, Huangshan Tourism announced that it had received a written resignation from Chairman Zhang Dehui, who resigned from the positions of Chairman and Director of the 9th Board of Directors of the company and related positions of various special committees due to job changes. Jiang Mao served as Chairman and Fang Yingjian served as President.
Airbnb: Kong Zhiqiu was appointed as Head of Asia Operations. On September 15, Airbnb announced that Kong Zhiqiu would serve as Head of Asia Operations, and would be fully responsible for the business operations of Airbnb in markets including China, Japan, South Korea, India and Southeast Asia.
China Travel Service Cultural Investment Group: Liu Xiaoquan and Wu Ru'nan were elected as non-independent directors. On September 16, China Travel Service Cultural Investment announced that after deliberation by the general meeting of shareholders and the board of directors, Liu Xiaoquan and Wu Ru'nan were elected as non-independent directors of the 9th Board of Directors, with their term of office starting from September 16 until the expiration of the 9th Board of Directors.
Disney Appoints Adam Smith as Chairman of DTC Business. On September 17, Disney announced the appointment of Adam Smith as Chairman of the company's DTC business. Smith will be responsible for the company's global entertainment SVOD business and will oversee Disney+ and Hulu's products, engineering, advertising technology, partnerships, data and analytics, etc.
Lingnan Ecological Cultural Tourism: President Liu Yong resigned, and Zheng Naiwen took over. On September 18, Lingnan Ecological Cultural Tourism Co., Ltd. held the 45th meeting of the 5th Board of Directors. After nomination by the Chairman and qualification review by the Nomination Committee, the Board of Directors agreed to appoint Zheng Naiwen as the President of the company, and the company's legal representative was simultaneously changed to Zheng Naiwen.
China Tourism Group: Su Hengxuan and Zhang Liangdong were appointed as external directors. On September 22, China Tourism Group received a notice from the superior that Su Hengxuan and Zhang Liangdong would serve as external directors of China Tourism Group Co., Ltd., and the company will complete relevant procedures such as industrial and commercial filing afterwards.
Sanxiang Impression: Xu Wenzhi was elected as Chairman, and Wang Sheng was appointed as President. On September 21, Sanxiang Impression held the first interim meeting of the 9th Board of Directors, electing Xu Wenzhi as the Chairman of the company; appointing Wang Sheng as the President of the company, and Huang Jian, Xu Yu and Wang Jianhui as Vice Presidents.
Jiuhua Tourism: Appointed Zhang Guoxiang as Deputy General Manager. On September 29, Anhui Jiuhuashan Tourism Development Co., Ltd. held the 17th meeting of the 9th Board of Directors. After nomination by the General Manager and qualification review by the Nomination Committee, the Board of Directors reviewed and approved the appointment of Zhang Guoxiang as Deputy General Manager, whose term of office is consistent with that of the current Board of Directors.
04 Investment and Equity Trends of Cultural Tourism Enterprises
In September, according to the ABN Cultural Tourism Brand Monitoring List, 5 tourism enterprises had investment and equity changes. The key projects involved in the monitoring list include:
Western Regions Tourism: 9.61% state-owned equity was transferred free of charge, and the actual controller remains unchanged. On September 4, Western Regions Tourism (300859.SZ) announced that 14.8976 million shares held by Changji State State-owned Investment, corresponding to 9.61% of the total share capital, were transferred free of charge to Xinlv Changji Cultural Tourism Company. This transfer is an internal optimization of the cultural tourism capital layout of Xinjiang state-owned assets. After the transfer is completed, the controlling shareholder of the company is still Xinjiang Cultural Tourism Investment, the actual controller remains unchanged, and no tender offer is triggered.
Tianfu Cultural Tourism: Plans to acquire 34.30% equity of Bipenggou Scenic Area for 174 million yuan. On September 10, Tianfu Cultural Tourism announced that the company has signed an equity transfer agreement with the counterparty, planning to acquire the equity of Lixian Bipenggou Tourism Development Co., Ltd. The target owns the operation resources of Bipenggou Scenic Area, and the transaction still needs the approval of the general meeting of shareholders and the internal approval of the counterparty.
Guilin Tourism: 65% equity of the second shareholder Guilin Aviation Tourism was transferred to Guilin Transportation Investment, and the controlling shareholder and actual controller remain unchanged. On September 28, Guilin Tourism (000978.SZ) announced that Guilin Aviation Tourism Group Co., Ltd., a shareholder holding more than 5% of the shares, has completed the registration of equity structure changes, and the 65% equity of Guilin Aviation Tourism jointly held by Aviation Group and Capital Airlines has been registered under the name of Guilin Transportation Investment.
Wuhan Cultural Tourism Group: 40% equity of its subsidiary Wuhan Panjiang Cultural Tourism was listed for transfer. On September 1, Wuhan Qingchuan Cultural Tourism listed and transferred 40% equity of Wuhan Panjiang Cultural Tourism Industry Co., Ltd. through the property rights trading platform, with a listing reserve price of 500,000 yuan. The transferee will be collected through online bidding, which is a measure for local state-owned cultural tourism to revitalize stock projects.
CYTS: Plans to publicly list and transfer 51% equity and creditor's rights of Shanshui Hotel. On September 8, CYTS (600138.SH) announced that it plans to publicly list and transfer the 51% equity it holds in CYTS Shanshui Hotel Group Co., Ltd. and the creditor's rights it enjoys to it through a property rights trading institution. The listing transfer reserve price is 114.2822 million yuan, and the intended transferee must pay a transaction deposit of 34.2846 million yuan within 3 working days after the confirmation of the transferee qualification.
05 Signing and Preparation of Key Cultural Tourism Projects
According to the latest monitoring data from the Asia Accommodation Big Data Research Institute, 124 key cultural tourism projects were newly signed in September, involving multiple cultural tourism complexes and the preparation of some theme parks. The key projects involved in the monitoring list include:
#Opening and Launching#
The Dalian Donggang Paradise project was launched. On September 1, the groundbreaking ceremony of the Dashang Donggang Paradise project was held. Dashang Donggang Paradise is located in the core area of Donggang, with a total land area of 25,500 square meters and a total construction area of 191,000 square meters. It is planned to build an urban super high-rise over 200 meters, which will create a landmark coastal complex.
The world's first pterosaur-themed museum opened. On September 13, the world's first pterosaur-themed museum, Xinjiang Hami Pterosaur Museum, was inaugurated and opened. The museum is located in the core area of Hami Pterosaur Yadan National Geopark, in the Gobi Yadan zone of Wubao Town, Yizhou District, Hami City. The total area of the park reaches 276.42 square kilometers, covering two characteristic parks: Pterosaur Eden and Dahai Road Yadan.
China Gold Museum opened. The Gold Museum will open on September 19. The museum is located in Jiapigou Town, Huadian City, Jilin Province. Construction started in August 2025. The first phase of the project invested 164 million yuan, with a construction area of 9,566 square meters. The museum houses more than a thousand precious physical objects, out-of-print historical materials and old industrial relics, restoring the development process of ancient folk gold mining, modern mine rise, and modern gold smelting, filling the gap of immersive cultural and museum display of gold theme in the province.
The "Heng Times" film-themed cultural, tourism and commercial complex project in Hengdian, Zhejiang started construction. It officially started in Hengdian, Zhejiang on September 21, with a planned investment of 3 billion yuan and a total construction area of about 340,000 square meters. It is