Market Snapshot
| Study Period: | 2017-2026 |
| Base Year: | 2021 |
| CAGR: | >2 % |
|
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Market Overview
The tourism is one of the key contributing sectors to the China’s economy and is largely dominated by the inbound tourism. The comprehensive contribution of China's tourism industry to the total Gross Domestic Product (GDP) has steadily increased over years. The overall contribution of the tourism industry to the total GDP is an important indicator of socio-economic development and industrial structure observation. In 2019, the comprehensive contribution of China's tourism industry to GDP was CNY 10.94 trillion, accounting for 11.05% of the total GDP, reaching a record high since 2014 from 10.39% in 2014 to 11.05% in 2019.
Similarly, the hotel industry has also been on growth track during the study period. The industry expanded with several new openings, mergers and acquisitions which enhanced the market value and resulted in more revenue generation. The tourism and hotel industry is comparatively less affected by the COVID-19 pandemic during 2020, as the market is largely dependent on the domestic travellers alone. The international travellers who account for a less share in the market recorded a sharp decline in transactions as majority nations are largely affected by the sudden pandemic.
Scope of the report
China tourism and hotel industry is segmented by Type of Tourism into Inbound Tourism and Outbound Tourism, and by By Type of Hotel into Economy and Budget Hotels, Mid-Scale Hotels, Upper Scale Hotels, Premium, and Luxury Hotels and Others (Shared Living Spaces, Rented Apartments, Service Apartments, etc.,). The report offers market size and forecasts for China's tourism and hotel industry in Value (USD million) for all the above segments.
| By Type of Tourism | |
| Inbound Tourism | |
| Outbound Tourism |
| By Type of Hotel | |
| Economy and Budget Hotels | |
| Mid-Scale Hotels | |
| Upper Scale Hotels | |
| Premium and Luxury Hotels | |
| Others (Shared Living Spaces, Rented Apartments, Service Apartments, etc.,) |
Key Market Trends
Growing Tourism Sector has been Contributing a Major Share to the Market
Tourism has been an important part of China’s national economy. According to the official statistics, the domestic tourism market continued to grow steadily from 2010 to 2019. In 2017, the number of domestic tourists exceeded 5 billion for the first time ever and in 2019, the number of domestic tourists exceeded the 6 billion mark and reached 6.006 billion, compared with 2018. The year-on-year increase of 8.43% was recorded from 2010 to 2019, and the total scale of the country's tourism industry has achieved steady growth. The total tourism revenue in 2010 was CNY 1.57 trillion, and the total domestic tourism revenue in 2019 was CNY 6.65 trillion, a new record Peak, the average CAGR reached 17.36%, a year-on-year increase of 11.06% compared to 2018.
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Expanding Hotel Industry is Fuelling the Growth of the Market
The hotel industry in China has been expanding and is adding new rooms to the supply every year. The industry recorded several renovations during the study period which include the major projects such as Conrad Hangzhou with around 300 rooms and completed in March 2019, Ascott Raffles Hangzhou with more than 170 rooms and completed in November 2018. The COVID-19 outbreak has been a severe challenge for the hotel industry in China. However, several projects are planned to be complete in the coming years and are going to add around 1,180 rooms to supply during the forecast period. Most of the development is going to be concentrated around Hangzhou with the primary focus on the luxury segment of the hotel market.
Competitive Landscape
The report covers major players operating in the tourism and hotel industry in China. In terms of market share and brand awareness, few of the players currently dominate the market. Several travel and tourism companies are offering various international and inbound tourism packages to attract a large number of customers and to gain a more competitive advantage. Similarly, owing to the high population and the high number of international visitors, leading international hotel brands have expanded to the country to offer their services.
Recent Developments
- In April 2021, the Niccolo Suzhou, located on the top floors of the new Suzhou International Finance Square (IFS) skyscraper was opened. The 233-room Niccolo Suzhou hotel offers guests commanding panoramic views over neighboring Jinji Lake and the Suzhou skyline and features a variety of F&B outlets, a Sky Pool & a Jacuzzi on the 117th floor, a fitness studio and gym, as well as a choice of flexible meeting and event spaces.
- In March 2021, World's first 'Polar Bear Hotel' opened in China. Niccolo Suzhou
Table of Contents
1. INTRODUCTION
1.1 Study Assumptions and Market Definition
1.2 Scope of the Study
2. RESEARCH METHODOLOGY
3. EXECUTIVE SUMMARY
4. MARKET INSIGHTS AND DYNAMICS
4.1 Market Overview
4.2 Market Drivers
4.3 Market Restraints/Challenges
4.4 Value Chain / Supply Chain Analysis
4.5 Porter's Five Force Analysis
4.6 Government Initiatives to Encourage Tourism Sector in the Country
4.7 Government Regulations in the Hotel Industry
4.8 Insights on Technological Innovations in the Hotel Industry
4.9 Impact of COVID-19 on the Market
5. MARKET SEGMENTATION
5.1 By Type of Tourism
5.1.1 Inbound Tourism
5.1.2 Outbound Tourism
5.2 By Type of Hotel
5.2.1 Economy and Budget Hotels
5.2.2 Mid-Scale Hotels
5.2.3 Upper Scale Hotels
5.2.4 Premium and Luxury Hotels
5.2.5 Others (Shared Living Spaces, Rented Apartments, Service Apartments, etc.,)
6. COMPETITIVE LANDSCAPE
6.1 Market Concentration Overview
6.2 Company Profiles
6.2.1 eLong
6.2.2 Emei Shan Tourism Co Ltd
6.2.3 Huangshan Tourism Development
6.2.4 Trip.com Group Ltd
6.2.5 Tuniu Corp
6.2.6 Shanghai Jin Jiang International Hotels (Group) Co Ltd
6.2.7 Marriott International
6.2.8 Huazhu Hotels Group Ltd
6.2.9 Shangri-la Hotels and Resorts
6.2.10 Zhejiang New Century Hotel Management Co. Ltd*
*List Not Exhaustive7. FUTURE OF CHINA TOURISM AND HOTEL INDUSTRY
8. DISCLAIMER
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Frequently Asked Questions
What is the study period of this market?
The China Tourism and Hotel Industry market is studied from 2017 - 2026.
What is the growth rate of China Tourism and Hotel Industry ?
The China Tourism and Hotel Industry is growing at a CAGR of >2% over the next 5 years.
Who are the key players in China Tourism and Hotel Industry ?
eLong, Emei Shan Tourism Co Ltd, Huangshan Tourism Development, Shanghai Jin Jiang International Hotels (Group) Co Ltd, Marriott International are the major companies operating in China Tourism and Hotel Industry .
