The Tourism employment in Travel Intermediation segment in China, registered a value of USD 8,202.34 million in 2021
The indicator recorded a historical growth (CAGR) of 3.22% between 2018 to 2021, and is expected to grow by ...
GlobalData projects the indicator to grow ...
Tourism employment in Travel Intermediation segment in China experienced a huge growth in 2021.
The travel and tourism industry consists of revenues generated by passenger airlines, passenger rail, foodservice, hotels and motels, travel intermediaries and casinos and gaming market.
Travel intermediaries is part of a business that assists in selling travel products and services to customers.
Effect of COVID-19 on the travel and tourism segment in China
The Chinese travel and tourism industry grew at a healthy rate prior to the pandemic, with some slowdown evident in 2020. The industry suffered a steep decline in 2020 amid the COVID-19 pandemic. The industry is expected to recover and achieve very strong growth, with moderate rates expected over the remainder of the forecast period. China is a vast country with a wide variety of tourist attractions and diverse culture, which has led to it becoming a major tourist destination globally. It’s growing popularity as a destination is mainly due to the availability of different cultures, ancient cities, and natural highlights. Some of the main attractions include the Great Wall of China, the Forbidden City in Beijing, the Terracotta Army, and events such as the Lunar Festival. Government tourism strategies have also been encouraging growth as China looks to diversify its economy to focus more on services and away from manufacturing.
Impact of the existence of online travel intermediaries
The existence of online travel intermediaries increases consumer awareness with regard to price, enhancing buyer power. Online reviews have a decisive impact on consumer decisions and the ability to easily make cancelations online gives buyers greater power. Expedia (trivago, expedia.com, hotels.com) and Booking Holdings (booking.com, agoda.com, kayak.com) have eroded the brand appeal of large hotel operators in particular by increasing consumers' awareness of quality and price.
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