Published on : Wednesday, January 11, 2017
Inching closer to its target of raising 7 trillion yuan tourism revenue by 2020, China’s domestic tourism industry earned about 3.9 trillion yuan (about 563.6 billion U.S. dollars) in 2016, official statistics reveal. This is 14 percent increase year-on-year.
According to the China National Tourism Administration (CNTA), domestic tourists made 4.44 billion trips last year, an increase of 11 percent. The CNTA has attributed the sector’s growth momentum to upgraded domestic consumption.
Outbound trips increased 4.3 percent to 122 million while inbound trips rose 3.8 percent to 138 million. The nation’s tourism service trade surplus also rose 11.5 percent to 10.2 billion U.S. dollars.
As per CNTA data, Domestic tourism is expected to increase 10 percent year on year to 4.88 billion trips in 2017, with revenue rising 12.5 percent to 4.4 trillion yuan.
According to a State Council five-year tourism plan (2016-2020), investment in tourism is expected to grow to 2 trillion yuan by 2020 and the sector will contribute more than 12 percent of GDP.
Tags: China's domestic tourism