[photopress:travel_CTrip.jpg,full,alignright]A nationwide survey suggests that the value of China’s online travel market will reach RMB3.84 billion ($519 million) this year, with a projected growth rate of 70.7%.
Fu Zhihua, director of the Data Center of the China Internet (DCCI) research department that conducted the survey said, ‘There are two reasons for the acceleration: the Beijing Olympic Games and the further opening up of the domestic tourism market.’
The survey showed that China’s online travel services market was worth RMB2.25 billion ($300 million) in 2007, with an estimated 65% expansion for the industry from 2006.
Shanghai-based online travel service provider Ctrip.com still holds pole position with the highest penetration in large primary and second-tier cities.
The effect was felt industry-wide, benefiting other players such as eLong , China’s second-biggest online travel agency, and Mango city.com launched by the Hong Kong China Travel Services (HKCTS) in 2005.
The Netguide 2008 survey forecast the trade volume would rise to RMB7.32 billion ($989 million) in 2009.
The survey, begun in January 2007, polled more than 300 websites, 270 enterprises and 50,786 people around the country.
Source: China Daily