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 Key Buyers Chapter
The industry has a low level of concentration with revenue spread across a large number of enterprises. Revenue from the top four firms accounted for an estimated 9.7% of total industry revenue in 2016.
Most firms within the industry are privately owned, which is another reason for the low level of industry concentration. Many private owners have established small travel agencies with few employees and low operational costs.
ACMR-IBISWorld forecasts that industry concentration will increase steadily in the future as large players continue to expand in business scale and more mergers and acquisitions occur within the industry... purchase to read more