Published on : Saturday, December 2, 2017
Online tourism is becoming increasingly popular among consumers and investors , 2016 saw an investment volume in China’s tourism market exceeding 1 trillion yuan ($151.5 billion) with a turnover of 4.69 trillion yuan.
There will be new opportunities in the market with the combination of tourism and internet.As per the 2016 China Tourism Investment Report online tourism was responsible for 100 billion yuan to the total investment.
Zhou Zheng, vice-president of Alitrip said that in four years, Alitrip’s revenue grew 15-fold to 100 billion yuan in 2016. Being the fourth largest in online travelling sector globally it is expected that the Chinese online travelling market will help company reach the trillion yuan mark.
Due to automation and intelligent technologies Alitrip, the online travel affiliate of Alibaba Group, made the achievement with less than 1,000 employees.
Traditional online business operators need ten folds of employees, but they did the same thing with less staff Zhou added.
As reported by Sun Jie, CEO of Ctrip, China’s largest online travel platform 350 billion yuan in transaction volume happened in 2015.
Ctrip’s sales revenue will reach 1 trillion yuan by 2018 and there will be further expansion to 2 trillion yuan in 2021.
The internet has gradually changed the tourism scenario and has turned into a global economic engine.
. In 2016 the tourism industry posted $7.61 trillion in revenue leading to 10.3 percent of the world’s GDP as per the data from Pintu Institute.
China’s online tourism market grew 34.3 percent year-on-year and surpassed 600 billion yuan in 2016.