Despite Recession, China’s Online Travel Market Shows Strong, Steady Growth
Despite the global recession, the online travel marketplace in China is growing rapidly and PhoCusWright predicts online travel revenue will increase by 19% in 2009. In its first-ever Emerging Online Travel Marketplace in China report, PhoCusWright reveals that China’s online travel space currently totals approximately US$6.9 billion, accounting for about 11% of the country’s entire travel market. Due to a variety of factors, the online channel is expected to continue on a strong growth trajectory, and by 2011 will account for about 20% of the total market.
PhoCusWright’s Emerging Online Travel Marketplace in China explores China’s dynamic (and frequently misunderstood) travel market. Based on an in-depth, six-month research study, the report sizes the Chinese travel market by major segment and identifies key trends and developments. It also reveals some of the unique behavior patterns of Chinese travelers, and unveils what makes China’s travel market unlike those in the West and other markets in Asia.
According to Ram Badrinathan, PhoCusWright’s general manager, Asia Pacific, “China is rapidly emerging as the largest travel opportunity in Asia, but that doesn’t make the entire market accessible to entrepreneurs. The key parts of the Chinese travel value chain are in varying stages of deregulation and government control. It is vital to understand the triggers that will allow for innovation and opportunity. What is really exciting is the vast potential represented by Chinese online consumers, as the country emerges as the largest broadband user market in the world. This will create a unique dynamic in the travel buying process.”
PhoCusWright’s Emerging Online Travel Marketplace in China is available at an introductory price of $795 through November 6, 2009. The expected publication date is October 30, 2009 and the report will be included in the Global and European Edition research subscriptions.
PhoCusWright will host a Webinar on November 4, 2009—Unveiling the Dragon: The China Online Travel Market. Access to the Webinar is free with report purchase.