The government and private sector are investing heavily in China's tourism infrastructure.
San Francisco, CA (PRWEB) February 23, 2013
The rapidly growing tourism sector in China has provided a good market environment for tourism enterprises, including travel agencies. In the five years through 2012, revenue for the Travel Agencies industry in China has increased at an annualized rate of 11.3% to $47.5 billion. With increasing demand for diversified tourism products such as luxury and high quality products, travel agencies have been developing new tourism products in order to meet the needs of the consumers.
Revenue from the top four firms in the Travel Agencies industry in China – CITS Group Corporation, China CYTS Tours Holding, China Comfort Travel Group, and China Travel Service Head Office – accounted for less than 10.0% of total industry revenue in 2012. The industry has a low level of concentration with revenue spread across a large number of enterprises. In addition, most are small privately owned enterprises with few employees. The number of travel agencies China has been growing at a similar rate to revenue, says IBISWorld.
IBISWorld forecasts that growth in the Travel Agencies industry in China will accelerate over the next five years, as the government is emphasizing the strategic importance of tourism. The government, collectively owned organizations and the private sector have been investing heavily in China's tourism infrastructure. As a result, the industry is also attracting foreign capital.
For more information, visit IBISWorld’s Travel Agencies in China industry report page.
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IBISWorld Industry Report Key Topics
Firms in the Travel Agencies industry in China mainly provide travel services for businesses, groups and individuals. These services include consultation, travel planning and proposals, scheduling, accommodation and transportation. These services are primarily provided by domestic travel agencies and international travel agencies based in China. This industry does not include tour guide services provided by operators at the actual location, nor agencies selling only air or rail tickets.
Key External Drivers
Industry Life Cycle
Products & Markets
Products & Services
Globalization & Trade
Market Share Concentration
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Cost Structure Benchmarks
Barriers to Entry
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Recognized as the nation’s most trusted independent source of industry and market research, IBISWorld offers a comprehensive database of unique information and analysis on every US industry. With an extensive online portfolio, valued for its depth and scope, the company equips clients with the insight necessary to make better business decisions. Headquartered in Los Angeles, IBISWorld serves a range of business, professional service and government organizations through more than 10 locations worldwide. For more information, visit http://www.ibisworld.com or call 1-800-330-3772.