China’s economy is going through a downturn, as many of the foreign travel brands’ failures such as Uber or Airbnb probably couldn’t execute strategies that fit the Chinese market. And according to reports, this weaker Chinese economy negatively impacted the travel demand in China.
However, other reports showed that the Chinese travel industry had a good result and the projected growth for 2017 is also supposed to be better than average.
More than 589 million Chinese travellers took domestic and international trips during this year’s Golden Week in China, according to Ctrip. Taking place from October 1 to 7, this reported a huge influx of inbound tourists. With this humongous tourist movement, it is about 12 percent year-over-year increase in the number of Chinese travellers that travelled around China or abroad compared with last year’s Golden Week and double from 2014. The Chinese government created Golden Week in 2000 to grow domestic and international tourism, the latter being pushed especially hard with this year’s China-U.S. National Year of Tourism.
Chinese domestic and foreign trips see the highest of its tourism business during the Golden Week and are one of the world’s single largest annual movements of people.
China is the world’s largest outbound travel market and one of the largest for domestic tourism. The data don’t imply it’s been a banner year for all travel brands in China, particularly U.S. and other western brands like Airbnb and Carnival Corp., but it does discredit any assertions that China’s economy has put a major damper on its travel industry.
With more than 130 million outbound travellers in 2016, it’s a huge growth from 70 million in 2010. While Golden Week is only a snapshot of the total number of Chinese travellers that took trips so far this year, year-to-date revenues from travel brands in China are also significantly above last year.
Growth in mobile bookings has been fuelling many of these travel bookings as most Golden Week travel purchases were made on mobile devices. “Nearly two-thirds of digital travel bookings on Ctrip’s network were made on a mobile device, with desktops and laptops making up the other third,” said eMarketer’s analysis of the data.
Information Courtesy : Skift