China Will Be The Largest Travel Market In The World

The 2017 Asia Pacific Business Travel summit, hosted by Ctrip, ended in Beijing.

At this summit, Ctrip business travel joint business travel expert released the 2016 white paper on travel management.

2016

The white paper is published on the basis of 2016 Ctrip data and GBTA, the world's largest business travel organization.

The survey shows that 49% of enterprises believe that business travel is a "strategic investment" rather than a "necessary expenditure". This shows that business knowledge of business travel has been upgraded to a strategic positioning level, and is no longer limited to business growth; the survey also shows that the "whole process" has become the primary consideration for more and more enterprises when choosing a travel management company.

In the next few years, the global business travel market is expected to achieve a sustained healthy and stable population growth, and volume growth will slow down.

According to statistics, the scale of China's travel market reached US $290 billion in 2016, second only to the United States.

Authoritative experts predict that China's travel expenditure market will continue to grow at a rate of at least 10%, and replace the United States as the world's largest travel market. The emerging market economy will perform better. Asia will remain the main source of emerging market business; the global business class fares will rise by 1%, while the economy class fares will drop by 1%; and the The Globe Hotel prices will rise by 1%~3%, 1%.

It is reported that many enterprises have entered the business market this year, and the competition is increasingly fierce.

The advantages of more and more enterprises are that they provide assistance to SMEs in the absence of travel management concepts, and at the same time promote the further maturation of China's travel management market.

With the promotion of travel demand and the popularity of enterprise travel management consciousness, the demand for professional travel management is increasing.

At present, the market structure of China's business travel management still presents a large number of participants and low degree of concentration.

Over 70% are made up of a large number of non professional travel agencies such as travel agencies and air ticket agents.

In the business travel industry, no matter what the size of the business travellers is, the demand for efficient, convenient and economical travel is consistent.

Larger scale

Through the third party platform or docking with approval, finance, personnel and other enterprise level systems, we can achieve pparent management of travel data and reimbursement and integration of travel services to achieve efficient and convenient travel control and management. Small and medium-sized customers who are unable to implement system docking need special "whole process" services to achieve integrated travel management needs from application, booking to reimbursement.

According to Ctrip Travel data analysis, as of December 2016, domestic flight prices rose 1.5% compared to the same period last year, and international flight prices fell by 10.1% over the same period last year.

On the scale of the aviation market, the total turnover volume in the past 3 years has maintained a year-on-year growth rate of over 10%.

The enthusiasm of domestic airports has not been reduced. The two or three tier cities are the focus of development. Meanwhile, the turnover of international routes has increased by nearly 30%. "Going out" has become an important goal of domestic aviation enterprises.

The year-on-year drop in the price of international flights fully demonstrates that the Ctrip customers have greatly reduced the cost of international air tickets after the international travel control.

According to Ctrip Travel data analysis, the prices of all star rated hotels in the first tier cities continued to rise in 2016.

In terms of hotel type, Econo Hotel is weak in development and is moving towards intermediate hotels and short rental apartments. The higher gross profit margin will make mid-range hotels a hot spot for investment, and the growth of high-end hotels will slow down and more attention will be paid to stock assets in the future.

Promote.

The development of tourism brings the rapid development of resort hotels.

Affected by various factors, Chinese cross-border M & A hotels this year set off an upsurge.

The continuous diversification of tourism demand accelerates the integration of hotel resources and forms "Hotel +". At the same time, the major online travel operators also actively layout the hotel ecosystem, and strive to realize the comprehensive development of hotels and related fields.

2016 marks the first year of China's high-speed rail "going global".

According to Ctrip Travel data analysis, the proportion of airline insurance purchased in 2016 continued to rise in the first half of the year, and declined slightly in the second half of the year.

On the one hand, it reflects the gradual increase of corporate insurance awareness. On the other hand, it shows that the growth rate of insurance purchases has been unable to keep pace with the growth of business travel in the second half of 2016.

Based on the prediction of the factors affecting the travel of enterprises in 2017, Ctrip's head of travel, after understanding the changes in business travel expenses, differential marks, frequency of business trips, number of employees on business trips and the growth of business performance, a comprehensive analysis shows that the 2017 travel confidence index is 85 points.

The confidence index is in line with the 51.7% Purchasing Managers Index (November 2016, reaching the highest value in nearly two years) in November. This also fully proves that the positive and optimistic expectations for the business market in the future are in line with market realities.

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