China Online Travel Market Snapshot
|Study Period:||2017- 2026|
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The growing interest of tourists for more travel has been the major driver that has been driving the online travel market in China during the review period. Inbound tourism has been offering a major share to the market owing to the growing number of youngsters and middle-aged people in the country who are highly interested in travel and tourist activities. The higher share of inbound tourism is the primary factor that helped the market to expand further in 2020 when the whole world was struck with the COVID-19 pandemic which resulted in the closure of international borders for a longer time.
Demand for long trips which includes at least 5days of holidaying in the destination is gaining more popularity in the nation and at the same time, short trips which last for 2-3days are equally popular in the country. The growing internet utilization in the country is helping the market studied to expand rapidly in China. The operators are focusing on attracting more customers by increasing expenditure on marketing activities which includes running social campaigns etc., With the uncertainty clouded due to the pandemic, the demand for inbound tourism is anticipated to help the market to expand further during the initial years of forecast period.
Scope of the Report
A complete background analysis of the Online Travel Market in China, which includes an assessment of the emerging trends by segments, significant changes in market dynamics, and market overview, is covered in the report. Online Travel Market in China is Segmented By Service Type into Accommodation Booking, Travel Tickets Booking, Holiday Package Booking, and Other Services, By Mode of Booking into Direct Booking, and Travel Agents, and By Booking Platform into Desktop, and Mobile/Tablet. The report offers market size and forecasts for the Online Travel Market in China in value (USD billion) for all the above segments.
|By Service Type|
|Travel Tickets Booking|
|Holiday Package Booking|
|By Mode of Booking|
Key Market Trends
Increasing Internet Penetration in China is Helping in Market Expansion
According to the statistics, the number of internet users in China rose to 989 million as of December 2020, which was up by 85.4 million from March 2020. The ongoing COVID-19 pandemic has motivated customers to go online for majority purposes. In wake of the pandemic and owing to the closure of physical stores for a limited time has drove customers to book their travel through online thus helping the market studied to grow further in the country. Though the market recorded the highest figures during Dec 2018 with 49.5% customers utilizing the services, the market recorded fluctuations in the total transactions owing to the uncertainty clouded due to the US-China trade war and the internal situations. However, as of end of 2020, the penetration rate of online travel booking figured at 34.6% with 342.44 million internet users had used the services.
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Tourism Sector Growth is Driving the Market
China's macro-economy is running smoothly, and the per capita disposable income is growing steadily. With the changes in people's consumption concepts and consumption structure, the demand for tourism has also increased dramatically. In 2020, amid the impact of the COVID-19 pandemic, China saw approximately 2.88 billion domestic tourist trips which is a 52.1% year-on-year slump, according to the statistics released by the Ministry of Culture and Tourism. The status of the economic pillar industry has continued to strengthen. With the rapid growth of tourism industry revenue and the continuous increase of online travel penetration, China's online travel industry market has also proliferated. The number of tourists traveling to and from major tourist destinations like Guangdong, Henan, Jiangsu, Shanghai, Chongqing, and Beijing exceeded or almost reached the levels seen during the 2019 Spring Festival.
The China online travel market is expected to be consolidated with Ctrip, Qunar, and Fliggy being significant companies. The domestic competition is expected to increase further and also the growing international interest is anticipated to make the market more competitive.
- July 2021, Trip.com, a rapidly growing global online travel agency, has announced it is the first OTA to offer Eurail and Interrail train Passes, which are available via the Trip.com app. The passes are initially on sale in all English and German language regions and will become available across more countries and regions around the world later in the year.
- June 2021, Trip.com Group Gourmet, the dining hub hosted on the leading global travel services provider’s platforms, launched the new 2021 Top Global Restaurant List in Macao.
Table of Contents
1.1 Study Assumptions and Market Definition
1.2 Scope of the Market
2. RESEARCH METHODOLOGY
3. EXECUTIVE SUMMERY
4. MARKET INSIGHTS AND DYNAMICS
4.1 Market Overview
4.2 Market Drivers
4.3 Market Restraints
4.4 Market Opportunities
4.5 Porter's Five Forces Analysis
4.6 Technological Trends Influencing the Market
4.7 Impact of COVID-19 on the Market
5. MARKET SEGMENTATION
5.1 By Service Type
5.1.1 Accommodation Booking
5.1.2 Travel Tickets Booking
5.1.3 Holiday Package Booking
5.1.4 Other Services
5.2 By Mode of Booking
5.2.1 Direct Booking
5.2.2 Travel Agents
5.3 By Platform
6. COMPETITIVE LANDSCAPE
*List Not Exhaustive
6.1 Market Concentration Overview
6.2 Company Profiles
6.2.1 Trip.com Group Ltd
6.2.4 Meituan Dianping
6.2.9 Didi Chuxing
7. FUTURE OF THE MARKET
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Frequently Asked Questions
What is the study period of this market?
The China Online Travel Market market is studied from 2017 - 2026.
What is the growth rate of China Online Travel Market?
The China Online Travel Market is growing at a CAGR of >5.3% over the next 5 years.
Who are the key players in China Online Travel Market?
Ctrip, Qunar.com, Tongcheng-Elong Holdings Limited, Tuniu.com, Meituan-Dianping are the major companies operating in China Online Travel Market.