Travel Takes Off

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This year China is expected to attract 120 million tourists (growing at 20 percent a year) who will spend US$75.1 billion (growing at 29 percent a year). Within ten years the World Travel and Tourism Council (WTTC) estimates that China will become the second biggest travel and tourism market in the world, after the US.

WTTC figures include:

    • Investment and government spending in tourism will grow by 14 percent in 2006.
    • From 2007 to 2016 grow will be 8.7 percent a year – making China the fastest-growing market in the world.
    • Spending by inbound international visitors (approx. US$75 billion) in 2006, is equivalent to 7.4 percent of exports.
    • Travel and tourism contributes 2.9 percent to China’s GDP.
    • Spending generated by tourists could make up 13.7 percent of GDP in 2006.
    • The sector may account for 2.3 percent of total employment in 2006. It currently provides 17,383,000 jobs.

Against this background the Asia-Europe Meeting (ASEM) will hold a tourism forum and exhibition this October 19-22 in Yantai in east China.

China Business Services provides a range of services to the travel and tourism sector, and will be co-hosting an industry forum in London in November 2006. please contact us for details

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One Response to “Travel Takes Off”

  1. Archive » Workshop: Chinese Outbound Tourism Market | China Business Blog Says:

    […] have recently posted about the development of the travel and tourism sector in China (see here). Further information is available at an industry event in London in June. See details belo […]

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