"China Tourism Report Q3 2014" Published

From: Fast Market Research, Inc.
Published: Mon May 26 2014


BMI is forecasting very positive growth for the tourism industry in China based on solid domestic economic growth, improvements in the country's transport and accommodation infrastructure and its status as an increasingly popular holiday destination in the midst of the booming Asia Pacific region.

China has experienced several years of powerful domestic economic growth, and while the rate of GDP expansion is now expected to decline (though still remaining healthy) indications are that the middle class will continue to grow. This growth is resulting in outbound travel increasing in popularity, as more people have disposable income that can be used for holidays. As such we are forecasting substantial gains in the outbound travel market, with the number of annual outbound travellers expected to increase from 88.6mn in 2014 to an impressive 122.4mn in 2018 - an enormous potential market. China's domestic (internal) travel market also presents a valuable opportunity for growth, and the country already has a strong tradition of holiday taking within its own borders.

Full Report Details at
- http://www.fastmr.com/prod/811724_china_tourism_report_q3_2014.aspx?afid=302

China's profile as a holiday destination in the competitive Asia Pacific region received a substantial boost from the hosting of the 2008 Olympic Games, which presented a new image of accessibility to the world. With a substantial range of attractions, including modern cities such as Shanghai and Beijing, cultural and historical attractions such as The Forbidden City and Great Wall of China, and various eco-attractions, China continues to attract new and returning visitors alike. As the country relaxes stringent visa requirements and improves air travel connections, we will see further increases in the inbound travel market throughout our forecast period.

The Chinese government is keen to expand tourism, and has been investing heavily in the industry (in excess of US$4bn a year since 2001 according to figures from the World Travel & Tourism Council), utilising marketing campaigns such as 'Beautiful China - 2014 Year of Smart Travel' to raise the country's global profile.

China already has a well developed transport infrastructure, with several major international airports and a vast range of road and rail travel connections. Moving forward the country continues to invest in infrastructure, particularly focusing on the growth of air travel, and we do not foresee any problems keeping up with the expected increases in demand on the travel network.

Foreign direct investment in China has been gaining ground in recent years, with developers keen to take advantage of the massive potential domestic market and the increases in inbound arrivals. A gradual process of industry liberalisation, particularly in relation to hospitality, is giving greater scope for foreign direct investment and involvement by foreign companies, with many companies establishing a foothold by working in collaboration with local business.

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Company: Fast Market Research, Inc.
Contact Name: Bill Thompson
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