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Tourism Flows Domestic in China

New C&M analysis: China Tourism Flows Domestic Market


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2014-04-21 02:02:01 - Tourism Flows Domestic in China - a new market research report on companiesandmarkets.com

The steady growth recorded in China´s domestic economy towards the end of the review period resulted in rising disposable income levels for the majority of average Chinese consumers. With improved living standards, higher numbers of Chinese consumers are now option to go on holidays as a way of pampering themselves. This is likely to remain the major factor behind the robust growth expected in domestic tourism in China during the review period. Meanwhile, the Chinese Central Government´s incentives aimed at boosting domestic tourism has led to longer public holidays in China, including the week-long National Day holiday and Chinese New Year holiday. As such, many Chinese people now have the opportunity to travel to other parts of China for leisure

 

 

purposes rather than remaining in their home towns, which also stimulated growth in domestic tourism towards the end of the review period.

Domestic tourism is expected to maintain strong growth over the forecast period, with the number of trips set to increase at a CAGR of 10%. Such vigorous growth is set to be supported by several positive factors. For instance, the Chinese Central Government´s preferential policies with regards to domestic tourism are set to play a crucial role determining the popularity of domestic tourism during the forecast period. The State Council released the National Outline for Tourism and Leisure (2013-2020) in early 2013, a plan which aims to boost domestic tourism among China´s residents and further improve local living standards by implementing a national system of paid holidays across the country by the end of 2020. With such incentives on offer, domestic tourism is expected to continue registering robust growth in China over the forecast period, making the most of the momentum which was gained during the review period.

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