Rising Number of Chinese Tourists
The world has become globalized that anyone can access information just with a simple click of a button; one could conveniently travel from one country to another by the use of transportation. Tourism is also one of the world’s fastest-growing industry; in 2010 the Middle East and Asia had the greatest growth of tourist. Whether it is travelling to a different country for business or leisure; Tourism industry plays a very important role as it also promotes transportation services, such as airlines, cruise ships, and taxicabs; hospitality services, such as accommodations, including hotels and resorts; and entertainment venues, such as amusement parks, casinos, shopping malls, and music venues. This generates revenue for the country; thus promoting the growth and economy of the country.
Tourism Industry in China
The travel and tourism demand in China, including consumption, capital investments, government spending, and exports, is expected to grow by 14 percent, to 2,770 billion RMB (US $354 billion); with the projection of 588.2billion RMB ($75.1 billion) by the end of the year. This sector is expected to contribute to 2.9 percent to china’s gross domestic product (GDP) and has substantial increase the employment rate in the tourism industry with projections reaching 17.4 million (2.3 percent of total employment of the country. The tourism sector in China has experienced strong growth as substantial increase in personal income of the people in China. World Tourism Organization and the International Monetary Fund has accounted tourism in Asia region predominantly China would grow at an average annual rate of 4.6 percent between 2000 and 2020, while GDP growth averaged only 3.5 percent.
Tourism has become the new growth area for China’s economy in recent years. The country’s travel and tourism demand now accounts for 4.3 percent of the global market share. Over the last five years, more than 200 million Chinese traveled during the country’s three annual week long holidays collectively spending more than 70 billion RMB (US$8.7 billion).
With the increased amount of travelers, the demand for travel services increases. In terms of renowned natural sites, historical sites, famous sites and ancient capitals, China has a very strong history as China has started to develop their tourism industry where by WTO, has accounted that China has received over 54.6 million international visitors . The growth of China’s tourism market has become one of the world’s most watched markets in the tourism industry.
Christina Yao, Consultant