2024 is expected to be a year of continued strong recovery in the number of domestic as well as cross-border trips in China. Although domestic long-haul travel remains relatively down, this is expected to be more than offset by the strong recovery of mid-haul travel.
Airlines in China is set to see solid growth in passenger numbers and in retail current value terms in 2024, benefiting from the release of pent-up demand after the pandemic, and the return of cross-border travel activities. According to official statistics, international passenger volumes (excluding Hong Kong, Macao, and Taiwan) surged 254% in the first half of 2024, implying a strong sentiment for outbound travel outside of the Greater China region.
Hotels is projected to see another year of solid recovery in retail value sales in 2024, as travellers in China are taking more overnight trips. The growth in value sales of hotels is expected to be driven by the increasing supply of hotel rooms, as players continued to expand even throughout the pandemic.
Travellers in China are increasingly turning to independent travel instead of group travel. According to the Ministry of Culture and Tourism, although travel intermediaries organised well over 100 million domestic trips in 2023, this accounted for only 3% of total domestic trips.
Going forward, Chinese travellers are likely to explore more remote domestic destinations, driven by a value-seeking mindset and interest in experience travel. Tianshui, Aba (Ngawa), and Yanbian witnessed strong growth in the number of trips in Golden Week 2024, reflecting increasing interest in the Northeast and Western regions of China.
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Travel
Travel encompasses several categories including tourism flows, lodging, travel modes, in-destination spending and booking.
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