Recently published research from Timetric, "The Future of Travel and Tourism in China to 2016", is now available at Fast Market Research
Boston, MA -- (SBWIRE) -- 01/15/2013 -- In 2008 and 2009, inbound tourism to China declined despite the country hosting the 2008 Beijing Olympics Games. This was primarily due to the global financial crisis which caused rising unemployment rates and a decrease in the disposable income levels of many developed populations. Despite the decline in inbound tourism during 2008-2009, the Chinese tourism sector recorded significant growth during the review period (2007-2012), stimulated by the government's US$3.7 billion investment in the development of the sector. During the review period, the country also hosted the 2010 Asian Games and the Shanghai Expo, which provided further support for the sector.
Domestic and outbound tourism benefited from the country's strong economic growth, as a result of higher levels of disposable income and increased expenditure on leisure and business tourism. Easy access to capital, which funded tourism-related expenditure, was a key driver and increased the spending power of domestic tourists during the review period. This is expected to stimulate growth over the forecast period (2012-2016). With a stable economic outlook, the country is anticipated to record an increase in both tourist volume and expenditure over the forecast period."
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- In late 2010, China overtook Spain to become world's third-most attractive tourist destination. The country's total internal tourist volumes recorded a CAGR of 11.20% during the review period, increasing from 960.9 million in 2007 to 1.5 billion in 2011.
- The Chinese government is expected to make an annual investment of CNY700 billion (US$111 billion) over the forecast period to expand the country's high-speed rail network from 9,676 kilometers in June 2011 to 25,000 kilometers by the end of 2015 and to ensure that every city which has a population of at least 500,000 is connected by rail.
- After 2010, the China National Tourism Administration (CNTA) began to invest in domestic tourism development in order to make China more accessible to low and middle-income domestic tourists. China's domestic tourist volume increased from 906.2 million trips in 2007 to 1.4 billion trips in 2011, recording a CAGR of 11.72% during the review period.
- According to CNTA data, in 2011, China was the world's third-largest tourist destination, receiving 135 million inbound visitors, of which 57.6 million were overnight visitors and 77.4 million were day visitors.
- According to China Outbound Tourism Research Institute (COTRI), China is the largest source country for outbound tourism in Asia and third-largest source country for outbound tourism in the world, following Germany and the US.
- During the review period, the total air transport passenger volume in China increased from 186.4 million in 2007 to 293.2 million in 2011. Passenger load factor also increased with a rise in the demand for international and domestic flights.
Companies Mentioned in this Report: China Southern Airlines Limited, China Eastern Airlines Corporation Limited, Air China Limited, Hainan Airlines Co. Ltd., Shandong Airlines Co., Ltd., HK CTS Hotels Co., Ltd., Marriott China, 7 Days Group Holdings Limited, Jinjiang Inn Co., Ltd., Home Inns & Hotels Management Inc., China Auto Rental Inc., eHi Auto Services Co. Ltd., Avis China Car Rental Service, The Guangzhou Refine Car Rental Co., Ltd., Shou Qi Car Rental Co., Ltd., China International Travel Service Limited, China Odyssey Tours, China Connection Tours, WildChina, Travel China Guide
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