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 Locations Chapter
Industry activity is concentrated in Beijing, Guangdong and Shanghai in terms of sales revenue, jointly accounting for an estimated 42.4% of total revenue in 2016.
Beijing contributes most into industry revenue, accounting for an estimated 15.5% of total industry revenue. High economic levels, high household disposable income levels and a leading lifestyle all promote development of the tourism sector and the industry in the region.
Guangdong ranks second in terms of industry revenue. The province's significant share of industry revenue derives from the large population and relatively better economic conditions. In addition, Guangdong Province is close to overseas countries, which is helpful for exports of the industry... purchase to read more