China Tourism and Hotel Industry - Growth, Trends, COVID-19 Impact, and Forecasts (2022 - 2027)

China Tourism and Hotel Industry - Growth, Trends, COVID-19 Impact, and Forecasts (2022 - 2027)

The tourism is one of the key contributing sectors to the China’s economy and is largely dominated by the inbound tourism. The comprehensive contribution of China's tourism industry to the total Gross Domestic Product (GDP) has steadily increased over years. The overall contribution of the tourism industry to the total GDP is an important indicator of socio-economic development and industrial structure observation. In 2019, the comprehensive contribution of China's tourism industry to GDP was CNY 10.94 trillion, accounting for 11.05% of the total GDP, reaching a record high since 2014 from 10.39% in 2014 to 11.05% in 2019.

Similarly, the hotel industry has also been on growth track during the study period. The industry expanded with several new openings, mergers and acquisitions which enhanced the market value and resulted in more revenue generation. The tourism and hotel industry is comparatively less affected by the COVID-19 pandemic during 2020, as the market is largely dependent on the domestic travellers alone. The international travellers who account for a less share in the market recorded a sharp decline in transactions as majority nations are largely affected by the sudden pandemic.

Key Market TrendsGrowing Tourism Sector has been Contributing a Major Share to the Market

Tourism has been an important part of China’s national economy. According to the official statistics, the domestic tourism market continued to grow steadily from 2010 to 2019. In 2017, the number of domestic tourists exceeded 5 billion for the first time ever and in 2019, the number of domestic tourists exceeded the 6 billion mark and reached 6.006 billion, compared with 2018. The year-on-year increase of 8.43% was recorded from 2010 to 2019, and the total scale of the country's tourism industry has achieved steady growth. The total tourism revenue in 2010 was CNY 1.57 trillion, and the total domestic tourism revenue in 2019 was CNY 6.65 trillion, a new record Peak, the average CAGR reached 17.36%, a year-on-year increase of 11.06% compared to 2018.

Expanding Hotel Industry is Fuelling the Growth of the Market

The hotel industry in China has been expanding and is adding new rooms to the supply every year. The industry recorded several renovations during the study period which include the major projects such as Conrad Hangzhou with around 300 rooms and completed in March 2019, Ascott Raffles Hangzhou with more than 170 rooms and completed in November 2018. The COVID-19 outbreak has been a severe challenge for the hotel industry in China. However, several projects are planned to be complete in the coming years and are going to add around 1,180 rooms to supply during the forecast period. Most of the development is going to be concentrated around Hangzhou with the primary focus on the luxury segment of the hotel market.

Competitive Landscape

The report covers major players operating in the tourism and hotel industry in China. In terms of market share and brand awareness, few of the players currently dominate the market. Several travel and tourism companies are offering various international and inbound tourism packages to attract a large number of customers and to gain a more competitive advantage. Similarly, owing to the high population and the high number of international visitors, leading international hotel brands have expanded to the country to offer their services.

Additional Benefits:
  • The market estimate (ME) sheet in Excel format
  • 3 months of analyst support
Companies Mentioned

Emei Shan Tourism Co Ltd
Huangshan Tourism Development Group Ltd
Tuniu Corp
Shanghai Jin Jiang International Hotels (Group) Co Ltd
Marriott International
Huazhu Hotels Group Ltd
la Hotels and Resorts
Zhejiang New Century Hotel Management Co. Ltd*

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1.1 Study Assumptions and Market Definition
1.2 Scope of the Study
4.1 Market Overview
4.2 Market Drivers
4.3 Market Restraints/Challenges
4.4 Value Chain / Supply Chain Analysis
4.5 Porter's Five Force Analysis
4.6 Government Initiatives to Encourage Tourism Sector in the Country
4.7 Government Regulations in the Hotel Industry
4.8 Insights on Technological Innovations in the Hotel Industry
4.9 Impact of COVID-19 on the Market
5.1 By Type of Tourism
5.1.1 Inbound Tourism
5.1.2 Outbound Tourism
5.2 By Type of Hotel
5.2.1 Economy and Budget Hotels
5.2.2 Mid-Scale Hotels
5.2.3 Upper Scale Hotels
5.2.4 Premium and Luxury Hotels
5.2.5 Others (Shared Living Spaces, Rented Apartments, Service Apartments, etc.,)
6.1 Market Concentration Overview
6.2 Company Profiles
6.2.1 eLong
6.2.2 Emei Shan Tourism Co Ltd
6.2.3 Huangshan Tourism Development
6.2.4 Group Ltd
6.2.5 Tuniu Corp
6.2.6 Shanghai Jin Jiang International Hotels (Group) Co Ltd
6.2.7 Marriott International
6.2.8 Huazhu Hotels Group Ltd
6.2.9 Shangri-la Hotels and Resorts
6.2.10 Zhejiang New Century Hotel Management Co. Ltd*

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