Boston, MA -- (SBWire) -- 06/27/2013 --BMI's China tourism report looks at the trends and opportunities offered by the domestic and international tourism market. Inbound and outbound travel are both expected to show exceptional growth between 2013 and 2017, with domestic travel in particular bolstered by an increasingly prevalent and affluent middleclass. Other market indicators including receipts from travel, airline take-offs, number of hotels and industry value all show very positive signs of growth.
China's domestic economy has shown remarkable growth over the last few years, with strong investment in infrastructure and rising exports reflecting a steadily increasing GDP. At the same time the government is investing extensively in expanding tourism to the country, investing in excess of US$4bn annually since 2001 according to figures from the World Travel & Tourism Council. Increasingly the domestic tourism market is also being opened up to foreign investment through a process of industry liberalisation, particularly in relation to hospitality, meaning that overseas activity in hotel ownership and management is expanding rapidly. Travel agencies are also gradually being opened up to foreign involvement which will help to increase China's share in the international travel market.
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The country benefits from a well developed rail network, though due to some areas of population destiny the network is prone to congestion and would benefit from expansion on key routes. The government is investing extensively in the rail network and accordingly BMI expects that in 2013 railways will make up 75% of the total transport infrastructure industry value, equivalent to US$40.7bn, industry growth of 3.8% on 2012. This expansion is based on several major projects including urban railway and high speed railways.
As well as investing in the rail network the Chinese government is also investing in expanding both the country's domestic and international air travel capacity. Plans including building 82 new airports and refurbishing a further 101 airports by 2015.
The tourism market in China was affected by the global credit crunch and in 2012 saw a slight decline in the annual growth rates, though year on year changes still remain positive. 2013 is expected to show growth of 7.24%, rebounding from the 2012, with arrivals reaching close to 30mn. This growth will continue throughout the forecast period, and by 2017 BMI expects that the total annual arrivals figure will reach 42.8mn.
China has a multitude of tourist attractions, including vibrant cities such as Shanghai and Beijing, cultural and historical attractions like The Forbidden City and Great Wall of China and various eco-attractions.
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