Industry Analysis & Industry Trends
Along with the rapid development of China's economy, the tourism sector in China has experienced strong growth in recent years. As more people travel, demand for travel services increased. In the five years through 2016, revenue for the Travel Agencies industry in China has increased at an annualized rate of 12.6% to $80.0 billion. ACMR-IBISWorld forecasts that growth will increase by 7.7% annually over the next five years, as the government is emphasizing the strategic importance of tourism. In 2021, industry revenue is projected to reach $115.7 billion.
China has become the world's fourth most popular destination for international tourists and the most popular within Asia.... purchase to read more
Industry Report - Industry Investment Chapter
For every dollar spent on wages in this industry, about 18.2 cents are invested in capital. The industry requires a high level of labor inputs to meet customer needs. Given the service-based nature of the industry, almost all aspects of the industry involve a high degree of personal service relating to customers. In addition, many activities within the industry, such as administration and office services, are labor intensive. Although the industry is becoming more technologically driven, with computerized information, booking and reservation systems, as well as in areas such as ticket writing, itinerary preparation, commission income calculations and monthly cash settlements, the industry is still labor-intensive... purchase to read more