China's Domestic Tourism to Recover to 90% of Pre-Pandemic Level This Year, Report Says

16-12-23

China's Domestic Tourism to Recover to 90% of Pre-Pandemic Level This Year, Report Says China's Domestic Tourism to Recover to 90% of Pre-Pandemic Level This Year, Report Says

China's domestic tourism is expected to recover to 90 percent of the pre-pandemic level in 2019 this year, according to a report by the data center of the Ministry of Culture and Tourism.

China's domestic tourism revenue will likely reach CNY5.2 trillion (USD725.8 billion) this year, accounting for 91 percent of the total in 2019, the report released yesterday by the China Tourism Academy showed. Meanwhile, domestic trips are expected to reach 5.4 million, recovering to 90 percent of the level in 2019.

The CTA-TEP, an index measuring the development of China's tourism economy, came in at 111.1 in the first three quarters of the year, thanks to the innovative supply of cultural tourism and policies to boost tourism consumption confidence, according to the report. A reading above 100 indicates expansion.

More than 90 percent of the people surveyed by the China Tourism Academy plan to travel during off-peak periods this quarter.

Domestic tourism consumption is concentrated on scenic spots, resorts, and shopping districts, while tourist destinations and projects are more diversified, the report showed. All parts of China are integrating sports, music festivals, concerts, science, and technology into tourism to create a new growth point for cultural tourism consumption.

In terms of industrial development, the prosperity of the tourism industry and entrepreneurs' confidence have significantly rebounded. In the nine months ended Sept. 30, there was a strong demand for financing from tourism firms, listed companies, and tourist attractions.

Among the 1,836 enterprises surveyed by the China Tourism Academy, 79 percent of investment or operation companies and 46 percent of manufacturing or service firms invested in the construction of theme and amusement parks, cultural tourism equipment, science and technology, resorts, and commercial blocks.