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 10.8% to $73.7 billion. ACMR-IBISWorld forecasts that growth will increase by 6.7% annually over the next five years, as the government is emphasizing the strategic importance of tourism. In 2021, industry revenue is projected to reach $102.1 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 Analysis Chapter
Tourism relies heavily on the condition of the economy and the population's disposable income level. 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 from the Travel Agencies industry have increased.
Rising household disposable income levels enabled more Chinese people to afford tours within China and to visit foreign countries. As a result, domestic and outbound tourism experienced growth during the past five years. In late 2007, the United States and China signed an agreement to liberalize restrictions on Chinese tourists visiting the United States. Thi.. purchase to read more