China tourism industry up 15.1% YOY

Dublin-based Research and Markets said it has added”China Tourism Industry Report, 2013-2017″ report to their offering.

According to the firm, the China tourism market has gained momentum in recent years, with the CAGR of 26.2% between 2009 and 2012.

In 2012, the revenue in China tourism industry approximated RMB2.6tn, up 15.1% year-on-year.

China is at the turning point for economic restructuring and upgrading, leading to the economic growth slowdown but still in a robust way, the firm said.

Coupled with the improvement of national income level, the tourism industry of China witnesses consolidated growth, with the estimated revenue in 2013 growing by 14.3% year-on-year.

China tourism industry is made up of domestic tourism, inbound tourism and outbound tourism. Of these, domestic tourism is of absolute dominance in terms of either population or revenue.

In 2012, the population of domestic tourism stood at 2.957bn person-times, accounting for 93.2%, with the revenue hitting RMB2.2706tn or 87.8%.

It is estimated that the number of domestic tourists in 2013 will claim 3.275bn person-times, standing at 95.3%, with the targeted revenue increasing by 15.4% year-on-year to RMB2.62tn.

In 2012, China had a total of 24,900 travel agencies with a year-on-year increase of 5.3%. In 2007-2012, the number of travel agencies in China witnessed stable growth momentum, with the CAGR of 4.8%.

In particular, the number of star-class hotels saw a CAGR of negatively 3.5% from 2007 to 2012, three-star hotels 5.9%, four-star hotels 10.5%, and five-star hotels 13.9%.

Find out more at www.researchandmarkets.com.

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