A global slowdown is having its effect on China’s travel industry. But a downturn can also mean time and opportunity for new strategies for expansion. Many insiders are exploring other avenues such as more tourism within the country or improving the travel experience for those headed overseas.
The global uncertainty has had an obvious impact on China’s tourism industry. But many insiders say they are confident that China will continue to generate and meet new market demand.
Zhao Zhouwen, deputy manager of CITIC Group, said, ‘We made some changes in our tourism department last year. We are exploring other options, such as trips to Russia, Japan, Europe and the US. We also injected 120 million yuan into this business. So basically, our competitiveness in this sector is quite strong. Although the market is declining now, we believe the strong growth will return over the next 3 to 5 years.’
Zhang Huiguang, director of Beijing Tourism Bureau, said, ‘After the Beijing Olympics, the global financial turmoil did cause certain problems for Beijing’s tourism sector. But this is also a good opportunity for us. We should seize the opportunity, and expand domestic demand. So this is what we should focus on in the future.’