New Report Estimates That China's Tourism Receipts Will Reach US$85 Billion in 2011
Posted on: Wednesday, 19 December 2007, 00:00 CST
Research and Markets (http://www.researchandmarkets.com/reports/c77697) has announced the addition of China Tourism Industry Analysis (2007-2011) to their offering.
The Chinese tourism industry is scaling new heights with each passing year. As all the players are putting in their effort to bolster their position in China's tourism industry and various industry players are looking to tap the opportunity, the leading research firm RNCOS has come up with its latest report "China Tourism Industry Analysis (2007-2011)". The report focuses on the growing marketplace for China's tourism industry and evaluates the current market trends, evolving market and growth prospects of the tourism industry in China. It will help clients to analyze the leading-edge opportunities critical to the success of the global tourism industry (in general) and Chinese tourism industry (in particular).
According to the report, globally, total tourist figures reached crossed 658 Million in 2006 and is estimated to touch 841 Million in 2011. After seeing slowdown in growth rate in 2002, the sector has recovered somewhat from the ongoing effects of SARS, America's 'war on terror' and with liberalization in regulation.
The report has divided the Chinese tourism industry into tourist arrival, receipts, and spending. The forecast given for tourism growth is based on the market trends, drivers, barriers, and business development issues. Tourism sector's picture in China is very rosy due to favorable market conditions such as economic growth and reforms.
CNY or RMB represents the Chinese Yuan. Exchange rate as on 6 Dec 2007 (1 US$ = 7.41256 RMB)
Key Findings
- It is estimated that China's tourism receipts will reach US$ 85 Billion in year 2011 in which, transportation mode will continue to dominate. In 2005, Long distance transportation accounted for more than 28% of China tourism receipts.
- Geographically, China receives the highest number of tourist from Asia followed by Europe and America. Within Asia, Japan and Korea are the largest countries from where tourist visited to China but the purpose of the visits differs from country to country.
- The booming tourist sector is putting immense pressure on hotel industry in China, especially in less developed cities which offer potential opportunity in hotel industry.
- Rising income levels and urbanization are working as drivers for the tourism industry at the domestic level whereas WTO accession, economic growth and 2008 Olympics are contributing for growth in international tourist arrivals.
- Leisure and sightseeing remained the biggest purpose followed by business for tourist in China in 2006, indicating the potential of China as a tourism destination.
Key Issues & Facts Analyzed
- Detailed overview of the tourism industry at global level.
- Driving forces and challenges for the China tourism industry.
- Statistical overview of the Chinese tourism industry, including visitors by nationality, sex and purpose.
- Forecast of the China tourism industry's receipts and expenditure.
- Outbound tourist profile of China.
Key Players
Key players section includes profile of Melco International Development Limited, Shanghai Jin Jiang International Hotels, Guilin Tourism Corporation Limited, China United Travel Co. Ltd & Beijing Capital Tourism Co. Ltd.
Research Methodology Used
Information Sources
The information has been sourced from authentic and reliable sources like books, newspapers, trade journals, and white papers, industry portals, government agencies, trade associations, monitoring industry news and developments, and access to more than 3000 paid databases.
Analysis Method
Methods like ratio analysis, historical trend analysis, linear regression analysis using software tools, judgmental forecasting, and cause and effect analysis have been used in the report for rational analysis.
For more information visit http://www.researchandmarkets.com/reports/c77697
Source: Business Wire
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