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China Tourism Industry

By: EconomyWatch Date: 30 June 2010

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China tourism industry is growing by leaps and bounds and is making a mark in the world tourism industry. China tourism industry has contributed immensely to the social as well as the economic development of China. Over the years, China has grown steadily in the travel and tourism industry and is still enhancing it's presence in the global tourism market. As China has several tourism rich sites, China tourism industry earns the main revenues for the economic development of China.

China tourism industry:

With the speedy emergence of Chinese travel and tourism industry and expansion of the travel market one can be certain about the importance, the Chinese people give to social development and well being. May 1st vacation, National Day Holiday, Spring Festival Holiday witnesses a lot of activities. These three days in particular provide ample business opportunities for the other industries associated with the travel and tourism industry in China. The associated industries include retail market, entertainment industry, hospitality industry etc.,.

China tourism industry in the global market:

The Chinese tourism industry offer services keeping in mind the global standards. China has always been a traveler's delight. Promoting Chinese tourism industry efficiently in the global market has contributed significantly to the development of the China tourism industry. Along with tourists from other countries, local or domestic travelers also contribute to the growth of the China tourism industry. As China offers an optimum mix of modern economic setup and also boasts of a rich history heritage, tourists prefer to experience the joy of this Asian country.

China tourism industry trends:

The following points listed below indicates the economic set up of China in the context of China tourism industry:

There was an abrupt backslide in the year 2002 when the revenues earned by the China tourism industry dropped from $67.3 billion to $59 billion in the year 2003. The abrupt change can be attributed to SARS.
As many as 91.66 million travelers visited China in the year 2003, out of which as many as 32.7 million travelers stayed back overnight. Global tourism receptions accounted for $17.4 billion in the year 2003.
Travelers within China provide the main revenue. Domestic tourists account for 70% of the revenues earned from tourism industry in China.
Statistics suggest that tourism industry in China contributes approximately 12.7% every year towards the GDP , also the rate of growth is at 7.4%.

The China tourism industry is doing so well that it has gained the confidence of people from different parts of the globe and has become a prospective place for the foreign investors.