Tourism and Hotel Market in China by Type and Product - Forecast and Analysis 2022-2026

According to Technavio analysts, the tourism and hotel market share in China is expected to increase by USD 24.23 billion from 2021 to 2026 at a CAGR of 11.81%. This research report provides valuable insights on the post COVID-19 impact on the market, which will help companies evaluate their business approaches.

The tourism and hotel market in China report extensively covers market segmentation by the following:

• Type - Outbound tourism and inbound tourism
• Product - Chain hotels and independent hotels 

The tourism and hotel market vendors in China that are studied and compiled in this report include Beijing Zhiyuan International Travel Agency Co. Ltd., Emei Shan Tourism Co. Ltd., Expedia Group Inc., Guangdong International Hotel Management Holdings Ltd., Huangshan Tourism Development Co. Ltd., Huazhu Group Ltd., InterContinental Hotels Group PLC, Intrepid Group Pty Ltd., Jin Jiang International Holdings Co. Ltd., Jinmao China Hotel Investments and Management Ltd., Marriott International Inc., Shangri La Asia Ltd, The Dragon Trip., Tongcheng Travel Holdings Ltd., Trip.com Group Ltd., TUI AG, and Tuniu Corp among others.

What will the Tourism and Hotel Market Size in China be During the Forecast Period?

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Tourism and Hotel Market in China: Key Drivers, Trends, and Challenges

The increasing preference for local and authentic experiences is notably driving the tourism and hotel market growth in China, although factors such as outbreak of covid-19 may impede market growth. Our research analysts have studied the historical data and deduced the key market drivers and the COVID-19 pandemic impact on the tourism and hotel industry in China. The holistic analysis of the drivers will help in deducing end goals and refining marketing strategies to gain a competitive edge.

Key Tourism and Hotel Market Drivers in China

• One of the key factors driving the tourism and hotel market growth in China is the increasing preference for local and authentic experiences.
• The tourists are focusing more on exploring local communities and their cultures, which are considered one of the most critical aspects of the tourism and hotel market in China.
• The tourists also prefer:
  • Buying local products instead of souvenirs 
  • Undertaking adventure trips in public transport instead of taxis
  • Having dinner in a restaurant that uses zero-kilometer ingredients, including local, low-impact primary ingredients, such as meat, cheese, and honey.
• This new form of tourism is expected to become popular among tourists as they are becoming more aware of the environmental impact of tourism.
• Such factors are expected to fuel the market growth during the forecast period. 

Key Tourism and Hotel Market Trends in China

• Growing Internet access and online testimonials is one of the key China tourism and hotel market trends that is expected to impact the industry positively in the forecast period.
• The Internet provides consumers with all the essential information related to travel and hotels besides customer-generated reviews through testimonials. For instance;
  • As of January 2020, TripAdvisor Inc., a popular website for travel reviews, had an average of around 500 million visitors/month.
  • Booking.com provides users with booking options depending on the type of trip they wish to take. In 2020, the website had over 65 million guest reviews.
• The Internet provides direct access to destination images and videos, reviews, weather reports, maps, and guides.
• These factors are expected to further support the market in focus in the forecast years.

Key Tourism and Hotel Market Challenges in China

• One of the key challenges to the tourism and hotel market growth in China is the outbreak of covid-19.
• The closure of international borders, international flight cancellations, and lockdowns led by COVID-19 negatively affected the tourism and hotel market in China.
• According to the Ministry of Culture and Tourism of China (MCT), in the first half of 2020, domestic tourism demand decreased by 77% in China as compared to 2019.
• The zero-tolerance toward the virus even in 2021, when other countries such as the US accepted COVID-19 as an endemic, further decelerated the growth rate.
• These factors may impact the revenue growth of the market, which is another challenge for the tourism and hotel market in China during the forecast period.

This tourism and hotel market in China analysis report also provides detailed information on other upcoming trends and challenges that will have a far-reaching effect on the market growth. The actionable insights on the trends and challenges will help companies evaluate and develop growth strategies for 2022-2026.

Parent Market Analysis

Technavio categorizes the tourism and hotel market in China as a part of the global hotels, restaurants, and leisure market. Our research report has extensively covered external factors influencing the parent market growth potential in the coming years, which will determine the levels of growth of the tourism and hotel market in China during the forecast period.

Who are the Major Tourism and Hotel Market Vendors in China?

The report analyzes the market's competitive landscape and offers information on several market vendors, including:

• Beijing Zhiyuan International Travel Agency Co. Ltd.
• Emei Shan Tourism Co. Ltd.
• Expedia Group Inc.
• Guangdong International Hotel Management Holdings Ltd.
• Huangshan Tourism Development Co. Ltd.
• Huazhu Group Ltd.
• InterContinental Hotels Group PLC
• Intrepid Group Pty Ltd.
• Jin Jiang International Holdings Co. Ltd.
• Jinmao China Hotel Investments and Management Ltd.
• Marriott International Inc.
• Shangri La Asia Ltd
• The Dragon Trip.
• Tongcheng Travel Holdings Ltd.
• Trip.com Group Ltd.
• TUI AG
• Tuniu Corp

This statistical study of the tourism and hotel market in China encompasses successful business strategies deployed by the key vendors. The tourism and hotel market in China is fragmented and the vendors are deploying growth strategies such as focusing on safety measures and service portfolios to compete in the market.

Product Insights and News

• Expedia Group Inc. - The company offers tourism and hotel services through its subsidiary, Trivago N.V.
• Expedia Group Inc. - Under the retail segment, the company offers various travel and advertising services. Various brands under this segment include Hotels.com, Vrbo, Orbitz, Travelocity, and others.

To make the most of the opportunities and recover from post COVID-19 impact, market vendors should focus more on the growth prospects in the fast-growing segments, while maintaining their positions in the slow-growing segments.

The tourism and hotel market in China forecast report offers in-depth insights into key vendor profiles. The profiles include information on the production, sustainability, and prospects of the leading companies.

Tourism and Hotel Market in China Value Chain Analysis

Our report provides extensive information on the value chain analysis for the tourism and hotel market in China, which vendors can leverage to gain a competitive advantage during the forecast period. The end-to-end understanding of the value chain is essential in profit margin optimization and evaluation of business strategies. The data available in our value chain analysis segment can help vendors drive costs and enhance customer services during the forecast period.

What are the Revenue-generating Type Segments in the Tourism and Hotel Market in China?