Online travel industry growing exponentially in China
The roaring online travel industry of China is expected to reach $75 billion by 2017. The growth figures are predicted in double digits year-on-year. In a recent study made by iResearch it is revealed that the Chinese online travel agencies total transactions for second quarter of 2014 will reach $10 billion.
In a research report, the Chinese online travel industry’s predicted value for 2014 was projected at $45.4 billion. Ctrip emerged as a leader among the online travel agents in China with a
major share (54.20%) of booking. The other OTAs that are making a difference to the overall figures are etong, LY.com, 118114.cn, Feiren.com, Mangocity.com, etc.The research shows the gradual shift of Chinese travelers to online travel agents in the following pattern: 2014 – $46 billion, 2015 – $55 billion, 2016 – $65 billion and finally 2017 – $75 billion. Needless to mention, the growth in online bookings will also result in increasing volume of packages, flights, hotels booked online. Moreover, online car rental and cab calling services will be the new trend in China in the coming years.
an extensive war among OTAs both on the web and the mobile and now the established channels are ruling the online travel industry of China. Although the report also predicts that the battle to offer the best price will continue in the mobile channels resulting a new era of travel service marketing for the mobile platform.
Source: Travel & Tour World