Research and Markets has announced the addition of the "China Tourism Industry Forecast to 2012" report to their offering. With the increasing purchasing power, rapid economic liberalization and favorable government policies, tourism has emerged as a new growth avenue for the Chinese economy over the past few years. These developments and reforms have taken the tourism industry to new heights and introduced multistage transformations that attracted tourists not only from within the country…
Research and Markets has announced the addition of the "China Tourism Industry Forecast to 2012" report to their offering. With the increasing purchasing power, rapid economic liberalization and favorable government policies, tourism has emerged as a new growth avenue for the Chinese economy over the past few years. These developments and reforms have taken the tourism industry to new heights and introduced multistage transformations that attracted tourists not only from within the country but from overseas countries as well. The growth process can be segregated into different phases where the initial phase belonged to the emergence of inbound travel market and moved ahead to the development of domestic and outbound travel market.
This new research report China Tourism Industry Forecast to 2012 has found that domestic and outbound tourism segments have witnessed positive growth despite economic slowdown and changing industry landscape. Besides, the Chinese government has taken various initiatives such as bilateral agreements with neighboring countries, granting Approved Destination Status, easing VISA norms, tourism promotion, branding and positioning of China as a tourism hub, cultural promotion, golden weeks etc, in order to boost the tourism industry.
China has the world largest domestic tourism market considering the fact that more than 1.9 Billion domestic travelers generated total revenue of over CNY 1,000 Billion (US$ 150 Billion) in 2009. The outbound travel market has also been undergoing phenomenal transformation, with more than 47 Million travelers spent around US$ 44 Billion in the same year (2009).
It is projected that number of tourists to China from America and Europe may decrease in the current year, but the Asian countries will remain the biggest source of tourist arrivals. The main countries for tourist arrivals in China are Honk Kong, Macau, Taiwan, Japan, South Korea and Malaysia. It is projected that Japan and Taiwan will see significant growth in the number of tourists going to China in the coming years.
The impact of recession on inbound tourism market was significant, but limited to America and Europe up to a large extent. It is expected that the industry will bounce back and gain its lost momentum from 2010 onwards. Domestic and inbound tourism markets will maintain their growth rates and contribute the maximum share in revenue generation to the Chinese tourism industry.
The report incorporates an extensive research and rational analysis of the tourism industry in China. It provides segment level analysis of the industry along with future trends that may shape up with the betterment of economic conditions. The research will help consultants, industry analysts and vendors to get an in-depth knowledge of the current, past and future performance of the industry. The future outlook mentioned in the report has been derived by interactions with various industry veterans, experts, analyzing information from research papers, journals and the in-house developed models.
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