With 2020 in the rear-view mirror, here the Organizing Committee of 2021 Asia Amusement & Attractions Expo (AAA) would like to give you a quick look back at China’s tourism industry in the past year.
Emerging From the Darkest Moment, Embracing for Strong Recovery
China Tourism Academy (CTA)’s latest report finds that bouncing back from the historic low in the first quarter, China’s domestic arrivals and tourism revenue have respectively recovered 79% and 69.9% of last year’s level during National Day holiday.
Moreover, according to the quarterly report of Ctrip Group, one of China’s biggest travel service providers, the group has registered a net income of 1.6 trillion yuan in the third quarter with a net profit margin as high as 29%, marking the group’s first profitable quarter since the pandemic, as well as far exceeding the industry’s previous expectation.
The pandemic has also changed the landscape of Chinese tourism, giving rise to new trends and new demands, such as rural tourism, short-distance travel, sports + tourism, wellness retreat, study tour, internet + tourism, road trip, family vacation, and so forth.
A Thousand-Billion-Yuan Market in the Making
Despite disruption from the pandemic, observers are bullish about China’s tourism market in the long run.
Wan Min, CEO of China Tourism Group (CTG), said that tourism was a strategic pillar industry of China’s national economy, annually contributing over 10% of GDP over the past five years, and spending on tourism had made up 18.8% of residents’ total expenditure.
Dai Bin, President of China Tourism Academy (CTA) predicted that a mega tourism market receiving over ten billion arrivals and generating over a thousand billion yuan revenue on a yearly basis would come into being in the next five years.
Join AAA 2021 to Join the Future!
To know more about China’s tourism industry, please don’t hesitate to join AAA 2021, one of the biggest exhibitions for theme park and tourism in Asia, and an ideal platform to seize post-pandemic opportunities in the region!
2021 Asia Amusement & Attractions Expo (AAA)
Date: May 10th-12th, 2021
Venue: China Import & Export Fair Complex, Guangzhou