With rising purchasing power, rapid economic liberalization, and favorable government policies, the Chinese tourism industry has emerged as a new growth avenue. In fact, these developments and reforms have not only taken the industry to new heights, but also led to multi-stage transformations which attract tourists from within the country as well as overseas. The growth process in the industry began from the emergence of inbound travel market, and moved towards the development of domestic and outbound markets.
Our new research report “China Tourism Sector New Opportunities”, has found that the domestic and outbound tourism segments have grown, despite the economic slowdown and changing industry landscape. With a view to promoting tourism, the Chinese government has taken various initiatives, including inking bilateral agreements with neighboring countries, granting Approved Destination Status and easing VISA norms.
Within the industry, online tourism is the segment that has witnessed a significant growth on the back of booming domestic tourism and improving technical infrastructure. The popularity of internet and e-commerce were the main factors which instilled growth in the online tourism. Looking at the sector’s vast potential, our report analyzes the key trends driving it.
We also found that medical tourism has been registering a remarkable growth, and Meetings, Incentive, Convention, and Exhibitions (MICE) market is making its mark in the industry. Besides, rural tourism and cruise segment are going strong with the government support. Our report also elaborates red and wine tourisms which are the emerging trends gaining popularity within China as well as abroad, and helping the country increase its foreign exchange earnings.
The study presents information and statistics relating to prominent market segments, such as inbound, outbound and domestic tourism, and analyzes the historic, current and upcoming trends to provide balanced outlook on the industry. Incorporating a comprehensive research and cogent analysis of the Chinese tourism industry, the report provides segment-wise analysis to help clients understand how the market would shape up with the betterment of economic conditions. Interactions with various industry veterans, experts, and study and analysis of research papers, journals, and in-house developed models, assisted in anticipating the future growth. This way, our research tries to depict an impartial picture of the Chinese tourism industry that will prove vital to the clients.