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Rising internet users and growing tourism boosts the Online Travel Market in China

03-31-2012 03:51 AM CET | Business, Economy, Finances, Banking & Insurance

Press release from: Netscribes India

Netscribes (India) Pvt. Ltd. launches Online Travel Market in China 2012 report covering a market with strong growth potential. The report is part of Netscribes’ Business Services Industry Series reports.

Mumbai, India – Mar 30, 2012 – Netscribes (India) Pvt. Ltd., a knowledge consulting solutions company, announces the launch of its report, Online Travel Market in China 2012. With the world’s largest internet user base of over 450 mn, the online travel market is set to gain immense popularity within the local tourist community.

The report begins with the market overview section, providing a snapshot of online travel market in Asia, which is expected to be the most important driver affecting the overall Asian travel market in 2012. This is followed by the online travel market in China, with details on the domestic online travel market size in terms of online travel market value and its growth. China’s online travel market is estimated to grow at a CAGR of 35.2% annually up to 2012. It also mentions the size of the online travel booking consumer base and its growth over past few years. The share of population indulging in different types of online travel booking services has been included in this section. Further, the report provides an illustration of the online travel industry business model wherein it depicts the structure of the market, followed by the description of various kinds of services offered by the online travel industry and the corresponding players. Another detailed illustration about the commission charged by the players operating in the online travel market has been included.

Factors driving the growth of online travel market in China are also explained in detail. Increasing internet usage coupled with growth in mobile internet subscribers is providing impetus to the growth in online travel market. China has the world’s largest internet user base, representing 23% of the global online population. Mobile internet users have been growing at a CAGR of 45%. Rising middle class and increasing income will lead to increasing demand for online travel booking services. Rise in credit card holders will allow online travel agencies (OTAs) to increase their customer base. Credit card holders have grown at a CAGR of 24%. Growth in tourism along with reduced visa restrictions on Chinese Travelers provides growth prospects for the market. Outbound tourists are expected to grow at a CAGR of 16.9% up to 2012. Changing consumer lifestyle and untapped market potential provide opportunities for the players to capitalize upon.

The players operating in the market also face challenges which are impeding their development and growth prospects. Increasing competition and lack of automation have been identified as major challenges, threatening the position of existing market leaders. Regulation on foreign-invested travel agency restricts the entry of the foreign players in the domestic online travel industry.

The report also mentions the government regulations adopted for supporting the sustainable development of the overall online travel industry. It provides a detailed illustration of the new travel agency regulations benefiting the foreign players alongwith key penalties charged for misconduct by the OTAs.

Emerging trends in the online travel market include widening service offerings by the players, coordination with online communities and growing investments for facilitating the overall functioning and development of the market.
Mergers and acquisitions section covers the key deals taken place in the online travel space of China. This section includes the announced date, closing date, target, buyer/investor, seller and deal size.

The competition section outlays the competitive landscape of the online travel industry in China briefing about the domestic and foreign players existing in the market. This section provides a three dimensional analysis of domestic key players’ revenues, profits and market capitalization. The report also features brief profiles of major domestic and foreign players in the market and a snapshot of their corporation, financial performance along with the key financial ratios, business highlights and their product portfolio providing an insight into the existing competitive scenario.

Some of the key statistics or factors impacting the online travel market in China covered in the report includes factors impacting the Asian travel industry, domestic market size, online travel booking consumer base, online travel booking activities, online travel market structure, online travel business model and commission charged, internet population and penetration, share of internet users indulged in online travel booking, mobile internet users, share of mobile internet users accessing online travel booking services, share of Chinese urban households, Share of preferred leisure activities, urban consumer spending, urban disposable income, Share of total spending including basic and discretionary, growth in credit card holders, consumer credit card spending, rise in outbound tourism and inbound tourism, government regulatory framework, services offered, tie up with online communities and investments in the online travel market.

Key takeaway section summarizes the entire market in terms of opportunities, trends and challenges persisting in the online travel market in China.

Netscribes (www.netscribes.com) is a pioneering knowledge consulting and solutions firm with clientele across the globe. The company’s expertise spans areas of investment & business research, business & corporate intelligence, publishing services and customized knowledge database creation. At its core lies a true value proposition that draws upon a vast knowledge base.

For more information please write to info@netscribes.com

Jitendra Punjabi
3rd Floor, Saberwal House,
55B Mirza Ghalib Street,
Kolkata 700 016,
West Bengal, India.
Tel: +91 33 40646215
jitendra.punjabi@netscribes.com

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