The World Tourism Organization predicts that in 2007, the number of overseas tourists in the Asia-Pacific region will grow at an annual rate of more than 4%, while China will become the world's No.4 most popular tourist destination. It is expected that China will exceed the United States to become the No. 1 tourist destination in the world by 2020,, the Yangcheng Evening News reported.
China's fast growing tourism industry has promoted the growth of other related industries, such as hotel industry and catering business. Many world-renowned hotels have established their chain hotels in China. Of the 200 five-star hotels in China, 60% are world famous brand hotels. In China, hotel business market is large and mature, which is irresistibly attractive to global hotel business. Their success in China means they have controlled a large market share in the world.
China's hotel industry started to generate profits in the fiscal year of 2005-2006, according to the "China Hotel Industrial and Research Report for the Year of 2007". The general performance of hotel industry is good as the accommodation rate of hotel rooms and the average price of rooms are both climbing. It is expected that the good situation will continue in 2007 and 2008, and hotel industry can continue to grow between 2007 and 2010.
In 2008, some 1,079 new hotels will open in the world, which can provide 131,517 guest rooms. This shows that in 2008, the net growth of new hotels will reach 2.8%. More hotel construction will begin in the Asia-Pacific region, particularly in China, where nearly 50% of the new construction will occur. China's hotel industry has made the fastest development in the world. As a result, other industries related with hotels have also witnessed a fast momentum of growth. In China, demand for hotels increases at a rate of more than 10% every year.
Tourism Boom
China has seen a boom in tourism in recent years. The country's tourism industry is expected to bring record revenues of a trillion yuan, up ten percent from 2006, according to the National Tourism Administration.
Some 129 million inbound visitors from overseas are expected to visit China in 2007, five million more than that last year. Domestic tourists are projected to take 1.5 billion trips within the country, up eight percent against last year.
The Chinese government has been encouraging its citizens to travel more to stimulate domestic consumption. China earned 33.5 billion U.S. dollars from tourism last year, making the country the sixth highest tourism revenue earner in the world.
Source: ChinaNews
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