Online travel sales to residents recorded robust current value growth of 19% in 2017, facilitated primarily by transport and lodging. Essentials for travel, transport and lodging normally account for the largest proportion of consumers’ total expenditure and are the key focus areas for travel agents. Due to a high level of convenience and easy accessibility, online travel sales continued to register strong current value growth in 2017, while offline sales declined. Nevertheless, online travel agencies such as Ctrip.com International aimed to develop a combined online/offline strategy by establishing outlets and increasing their coverage, especially in tier-three and tier-four cities.
Online travel sales to residents is expected to grow at a CAGR of 11% at constant 2017 prices over the forecast period. Online travel agencies such as Tuniu and Ctrip.com International are consolidating their leading positions within the category by launching various innovative travel products and by exploring new target consumer groups, such as the elderly. With the rising elderly population in China, Tuniu and Tongcheng both introduced cruise travel and medical tourism designed for the elderly.
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