Today: September 27, 2016, 12:29 pm

New C&M analysis: China Travel Retail Market
Travel Retail in China - a new market research report on 2014-04-21 02:13:01
The ongoing slowdown in the global economy and the uncertain economic outlook in China continued to have a major adverse impact on demand for corporate business travel retail in 2012, especially among MICE travellers. In light of the severely tightened corporate travel budgets, China´s business travellers either reduced the frequency with which they engaged in business travel or shortened their business trips. This had a seriously negative effect on travel retail in China during the forecast period. However, overall, travel retail still recorded robust current value growth in 2012 as the majority of Chinese people tend to go travelling on their savings for leisure and other non-business purposes at least once a year. In light of rising disposable income levels and the growing awareness of the importance of leisure travel for personal wellbeing, increasing numbers of Chinese consumers had larger budgets for leisure travel towards the end of the review period, boosting spending on travel retail overall in 2012.

China International Tour Service Co Ltd (CITS) maintained the leading position in travel retail in 2012 with a value share of 17%, the result of a one percentage point increase over the course of the year. As the first travel company to acquire a license to organise overseas trips for Chinese people from within China, CITS now enjoys high brand awareness among local people and has a reputation as a well-established industry player. The company operates under 36 wholly-owned subsidiaries and 700 points-of-sale across China. CITS has also formed steady long-term partnerships with over 1,400 travel agencies in over 100 countries around the world. This enables the company to provide consistently high levels of service to its customers, resulting in the company remaining in first position in travel retail since 2010.

The outlook for travel retail for the forecast period remains upbeat as the category is expected to increase in constant value at a CAGR of 9% over the forecast period. This growth is set to be mainly supported by the growing need to relax among the Chinese population as the mounting pressures of both professional and personal lives are expected to combine with rising disposable income levels, resulting in vigorous growth in travel retail over the forecast period. In addition, demographic changes among China´s population, most notably the ageing of the Chinese population, are also set to be positive factor behind the growing demand for travel retail in the country during the forecast period.

Click for report details: ..

Browse all Travel Market Research Reports ..

Browse all Travel Company Profile Reports ..

Browse all Latest Market Research Reports ..

About Us is a leading online business information aggregator with over 300,000 market reports and company profiles available to our clients. Our extensive range of reports are sourced from the leading publishers of business information and provide clients with the widest range of information available. In terms of company profiles,’s online database allows clients access to market and corporate information to over 100,000 different companies. We provide clients with a fully indexed database of information where clients can find specific market reports on their niche industry sectors of interest.

Press Information

Published by
Mike King
London: +44 (0) 203 086 8600

# 597 Words
Related Articles
More From Finance
P2P lending platform Monexo partners with IDBI-Trusteeship [..]
For Immediate Release: 2nd September 2016 MUKESH BUBNA, CEO Monexo Fintech Pvt Limited P2P [..]
Day Trade to Win New September Class [..]
Sold Out? New Class Added – On September 6, 2016, is launching a brand new eight-week trading boot camp [..]
FTM (Forget The Market) Reopens 3 Shares [..]
Port Vila, Vanuatu, 28th July 2016 - Investment firm FTM today announced the reopening of three separate share options, projected [..]
Ex-Citibanker Launching Online P2P marketplace in India [..]
A study conducted by World Bank shows that MSMEs in India face an estimated credit gap of INR 20.9 trillion [..]
New Frontier Portfolios Top Morningstar Rankings
New Frontier’s global strategic portfolios topped the Global Balanced Strategic/All-Inclusive category of the latest Morningstar ETF [..]

Disclaimer: If you have any questions regarding information in this press release please contact the company added in the press release. Please do not contact pr-inside. We will not be able to assist you. PR-inside disclaims the content included in this release.