China hopes for good surplus in tourism sector

Published on : Tuesday, August 1, 2017

shanghai_1804276bThe Tourism department in China is expecting the increase of travel-trade surplus this year.



This year, China promotes different destinations to attract the global tourists. The Government of China is wishing to take more cash from the inbound visitors than its outbound visitors spends overseas.



According to the tourism official in China, the country is looking more cash for the revenue from the tourism section. The domestic tourism market has emerged from the downturn after the global financial crisis and increased continuously in the past few years. This data was revealed from China National Tourism Administration (CNTA).



Meanwhile, the international tourism industry is mostly dominated by USA and UK and has entered a stage of slower growth after fast expansion. China also sees more tourism approach during 2022 Winter Olympics.



The statistics of inbound tourism revenue rose 5.6 percent year on year to 120 billion U.S. dollars in 2016, which is exceeding the outbound tourism spending by 10.2 billion dollars, China National Tourism Administration (CNTA)data showed. In the first half of 2017, the inbound tourists made 69.5 million trips, while 62 million overseas trips were made by Chinese tourists.



Both the number of and revenue from inbound trips have increased steadily since 2014, it said.



Now, China has vowed to develop tourism and hospitality sector into a major driver for economic transformation and upgrading by 2020. The China National Tourism Administration (CNTA) envisaged in the direct investment in tourism from different private sectors to jump more than 20 percent from last year to 1.5 trillion yuan (223.3 billion U.S. dollars) this year. By 2019, China will also develop all the major airports to make China into a biggest aviation hub in Asia and the world.



In 2016, the revenue that was collected from the inbound tourists and the outbound tourists totaled 4.69 trillion yuan, contributing around 11 percent to the national economy of China.




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