Outbound travel market set to surge in 2016
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CHINA’S online outbound travel market will continue to surge this year and create huge opportunities for online travel agencies including Ctrip and Tuniu, research firms said yesterday.
China’s online outbound market revenue is set to hit 49.5 billion yuan (US$7.4 billion) this year, up 75 percent year on year and above the growth rate of the domestic travel market, said Analysys International.
Britain’s vote to leave the European Union will also benefit Chinese travelers who can exploit a cheaper pound, lower hotel costs and less costly shopping, according to Ctrip and Tuniu.
Surging demand and higher consumption power have lifted the number of Chinese outbound travelers to 120 million in 2015 and push the country as the world’s No. 1, iResearch Inc said yesterday.
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