When the whole world struggling to cope with economic recession, then Chinese economy is booming. Is it possible! Yes there is no sign of recession. Rather china’s increasingly wealthy middle class spending more than ever. The wealthy people of china making more holiday trip across china and also outside china.
The whole china is in a festive mood in ahead of Lunar New Year. Holiday makers are well prepared to leave home and many of them book their trip through online. In china there are about 400 million internet user and also has a vast number of credit card user.
On line booking firm’ s are making brisk business. There total revenue has soured up 27 percent from last year. Tourism sector expects a even higher return by the next couple of years. Particularly 2010 will likely the greatest year of tourism.
While a separate figure on overall bookings revenue was not available, China Market Research Group senior analyst Ben Cavender estimated online bookings accounted for 8-10 percent of the market.
Peoples are getting busy every day and more prone to book their trips through online. The number of on line bookings increase day by day. Within two years about 16 to 17 percent people will likely to make their holy day trip on line. Young consumers fell more comfortable with the concept of online purchases… and the use of credit cards has exploded over the last few year.
2010 will the special year of china and also travel industry because of the Shanghai Expo and . Most like ly about 70 million spectators visit Shanghai expo and most of them are Chinese.
Cavender said young professionals between the ages of 24 and 35 living in Beijing and Shanghai were driving demand for flights, hotel rooms and package tours.
“Young professionals living in Beijing and Shanghai are the key driving force of online booking and the alternative forms of payment like credit cards.
According to recent report by China Online Tourism Market Quarterly Tracker Q2 2007, that the total market size of China online tourism has reached RMB 624 million in the second quarter of 2007, increasing 15.6% quarter on quarter. Ctrip, mangocity and elong ranked top 3 in the market.