New Consumer Goods market report from Business Monitor International: "China Tourism Report Q4 2012"
Boston, MA -- (SBWIRE) -- 10/09/2012 -- The China Tourism Report examines the enormous long-term potential of the country's tourism market, particularly in terms of the massive domestic market. With China's middle class expanding rapidly, the domestic market will become of increasing importance to operators over the next decade.
The report examines how best to maximise returns in the Chinese tourism market, navigating the state-led tourism industry to discuss opportunities for joint ventures with Chinese partners.
We also analyse the growth and risk management strategies being employed by the leading players in the Chinese tourism sector as they seek to maximise the tremendous growth opportunities offered by the local market.
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Visitor arrivals to China are continuing to perform positively despite the slowing pace of the economy. Overall, tourist revenue rose by 17.3% year-on-year (y-o-y) in the first half of 2012, reaching US$202bn, indicating a positive performance for the industry. Although full tourist arrivals figures have not been released for the entire country, data from the major cities and entrance hubs indicates that arrivals are continuing to grow on an annual basis, though not as much as in recent years. Tourist arrivals to Beijing in the first quarter of 2012 grew by 9.3% y-o-y to total 43.7mn. Arrivals to Hong Kong, a main entrance hub for mainland China, grew by an impressive 15.6% y-o-y over the same period. However, BMI is concerned that the slow release for overall tourist figures suggests arrivals are not growing as fast across the entire country. We will assess any data releases in the next quarter before revising our forecasts.
Amid uncertainty about the overall performance, Tibet's tourist industry is performing strongly in 2012. Between January and May, tourist arrivals totalled 1.45mn, representing impressive growth of 25.7% y-oy. Of these, 1.42mn were domestic tourists, indicating that Tibet has marketed itself well as a destination within China. As a sign of the region's growing popularity, in July the government announced a US$4.8mn tourism project to be based in Tibetan capital Lhasa, which will include a museum, a theme park and new tourism centres.
In July, Beijing announced a new programme to improve the civil aviation industry. With the aviation routes still being established across the country's geographical expanse, the government is aiming to construct new supporting infrastructure and to modernise the sector. Under the plan, 89% of the population will be able to access aviation services by 2020. Areas the plan will focus on include the even allocation of airspace, improving management of domestic airlines and increasing airline capacity. Key Changes
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