Assessment of the China Tourism Market
The tourism industry in China has been maintaining a steady growth and is being recognized as a sector crucial for country’s economic growth. The sector is contributing to the advancement of related industries, society and the economy as a whole. The industry is also creating employment opportunities in tourist cities and improving the social, cultural and ecological environment.
Due to various positive factors such as robust economic growth, consistent increase in the RMB exchange rate and the continuous lowering of China’s visa threshold, the country’s tourism industry is growing rapidly. The number of inbound overnight tourist to China grew 3.4 percent in 2011 to reach approximately 58 million people compared to 56 million people in 2010. Earnings from international tourism increased from USD46 billion to more than USD48 billion for the same period.
Why should the report be purchased?
The report ‘Assessment of the China Tourism Market’ highlights key drivers of and trends emerging in the China tourism industry. An overview of the services of key service providers such as China CYTS Tours Holding Co. Ltd and Beijing Capital Tourism Co., Ltd has been presented. The current market scenario and future prospects of the sector has also been examined.
Research methodology and delivery time
Smart Research Insights has conducted in depth secondary research to arrive at key insights. Data collected from key industry sources has been analyzed impartially to present a clear picture of the industry. All recent developments which impact the sector dynamics have been captured and used to support the research hypothesis.
The report is available as single-site single-user license. The delivery time for the electronic version of the report is 3 business days as each copy undergoes thorough quality check and is updated with the most recent information available. The delivery time for hard copies is approximately 3-5 business days, as each hard copy is custom printed for the client.
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2. OVERVIEW OF CHINA’S TOURISM SECTOR
2.1 Market performance
2.2 Impact on the economy
2.3 Growth drivers and trends
3. REGULATORY ENVIRONMENT
4. KEY SERVICE PROVIDERS
4.2 China CYTS Tours Holding Co. Ltd
4.3 Beijing Capital Tourism Co. Ltd
4.4 China International Travel Service Corporation Ltd
5. PROMINENT DESTINATIONS
6. HOSPITALITY SECTOR
7. FUTURE OUTLOOK
8. RESEARCH METHODOLOGY
9. ABOUT SMART RESEARCH INSIGHTS
Tourism has, over the decades, emerged as one of the major industries for many Asian countries. The industry helps in attracting foreign exchange and overall boosting the economic development. Growth in many related industries such as hospitality, transportation, and retail too is encouraged by robust growth in the tourism sector. Other spin-off small business such as currency exchange, eating joints and tour operations also get advancement.
The tourism industry in Asia is growing steadily and experienced a year-on-year (y-o-y) growth of 5.7% in September 2011. Three decades ago approximately 70 per cent of global travel was within the developed economies. However, the last few years have seen a single digit percentage separating travel in developed and developing countries and industry experts are projecting it to become a 50:50 split in near future.
Southeast Asia experienced a comparatively slower growth due to the flooding that occurred in many destinations. For instance, Thailand saw a growth of 8 percent y-o-y in October 2011 but a fall of 18 percent in foreign arrivals during October and November 2011, as compared to the same periods in 2010. Growth in international arrivals into Northeast Asia was boosted by Japan where arrivals grew from 296,000 tourists in April 2011 to 616,000 visitors in October 2011. The Asia Pacific region’s tourism was boosted by New Zealand due to the lingering effect of the Rugby World Cup and international arrivals grew by 17% increase during October 2011.
Since international travelers are becoming more sophisticated and affluent, countries need to engage in constant product and process innovations. Japan, Singapore, Thailand, China, Malaysia, New Zealand and India are among the key destinations attracting maximum number of tourists in Asia. In 2010 Singapore attracted 11.6 million tourists and tourism receipts amounted to approximately USD 14 billion. This is forecasted to grow to 13 million visitors and USD 19 billion in receipts in 2011. The country plans to attract tourists through innovative tourism projects including setting up a new international cruise terminal, commencing Asia’s first river safari etc.