In keeping with its image in many areas as a global behemoth, China's online travel market continues to expand at an extremely fast rate. Unmanaged online business travel and leisure bookings are growing at a rate three times faster than that of the overall travel market, according to recent figures from PhoCusWright.
Immense Appetite for International Travel
Despite this year's slowdown of the once runaway Chinese economy, China's travel market continues to defy the national trend, as a result of the burgeoning Chinese middle classes and their immense appetite for international travel. China has now been named the largest travel market in Asia Pacific, and is expected to experience ongoing double-digit growth in travel bookings through 2015, according to a new PhoCusWright Global and Asia Pacific Edition report. Indeed, Chinese travellers continue to purchase travel products and services online at a rate that shows no sign of letting up.
Fierce Competition Among Chinese Travel Suppliers
According to one of PhoCusWright's research analysts, despite ongoing economic challenges, the Chinese middle class is hungry for independent travel and has been taking advantage of increasing options for online searching, shopping and buying. There is still huge potential for growth in the Chinese online travel market, as online travel penetration currently lags far behind regional competitors Australia, New Zealand and Japan at 15%. Consequently, competition among travel suppliers and intermediaries has become extremely fierce.
Homegrown OTAs Lead the Way
Online travel gross bookings will more than double between 2012 and 2015 to exceed US$30 billion, according to the 6th edition of PhoCusWright's China Online Travel Overview. Online travel agencies, led by homegrown players Ctrip and eLong, will continue to experience substantial gains, despite losing some of their online share to hotel and airline websites. Lurking just across the horizon we can expect a whole new species of online intermediaries to soon make themselves known. This includes an increasingly transactional group of meta-search sites and online shopping malls that have increased their focus on the travel market.
Discussioncomments powered by Disqus
More from #DTTT
In June we present:Live: #DTTTCampus
#DTTTCampus is here again and we are live from the ground in Oslo, Norway. We are so excited to be welcoming a range of speakers from around the world, from DMOs to travel film directors and industry content powerhouses. We are all set up in the newly transformed Høymagasinet and ready to get started! Stay […]
In May we present:Meet…Heili Klandorf-Järvsoo from Estonia Tourist Board
Heili Klandorf-Järvsoo is the Head of Tourism Marketing at Visit Estonia, and she will be joining us at #DTTTCampus alongside a panel of other DMOs to share insights on the in’s and out’s of Visit Estonia’s ‘Storytellers Nest’.
In May we present:Meet…Kevin Wright from Travel Oregon
In a world of always-on content, information overload and the ever-changing digital consumer, how do you stand out from the competition and most importantly, reach your audience? Kevin Wright, Vice President of Global Marketing for Travel Oregon will be joining us at #DTTTCampus in June to talk about Reflecting on the Role of Content to […]
In May we present:Meet…Gloria Loree from Destination Canada
We caught up with Gloria from Destination Canada ahead of #DTTTCampus to get a sneak peek into what we can expect from her talk on Designing Signature Experiences to Build Brand and Narrative.#brand experiences #destination canada #brand narrative #brand stories
In May we present:Meet…Daniel Bury VR Filmmaker
Daniel Bury is one of the youngest & most up and coming creators in the world of VR film-making, travelling the world to create immersive experiences through unique 360 and VR storytelling.#VR experiences #virtual reality experiences #daniel bury #filmmaker #dtttcampus #virtual reality #Vr
In May we present:5 Reasons Why to Visit #DTTTCampus 2019
In short, #DTTTCampus is a full exploration into the destination experience, with valuable insights on navigating the digital landscape and the ever-changing consumer behaviour of travellers today.#dttt campus #keynote speakers #workshops #destination experience #oslo #destination marketing #Visit Oslo