China Economic Review
Charting China’s changing economic terrain · Since 1990
Tourism industry to get bigger
November 3, 2009
With improving purchasing power, rapid economic liberalization and favourable government policies, tourism has emerged as a new growth avenue for the Chinese economy over the recent few years.
A new research report “China Tourism Industry Forecast to 2012”:
shows that domestic and outbound tourism segments have witnessed positive growth despite economic slowdown and changing industry landscape. These two segments are the most lucrative segments of tourism industry.
Research and Markets states that at present, China has the world’s largest domestic tourism market.
More than 1.7 billion domestic travellers generated total revenue of over $100 billion in 2008.
The outbound travel market has also massively increased with close to 45 million traveller generated revenue of more than $35 billion in 2008.