Sootoo.com estimated that the total transaction value of China online travel market would be RMB76.92 billion (US$12.52 billion) with increase of 35.2% YoY and 5.9% QoQ in Q4 2014. China’s core online travel enterprises are making attractive promotions to compete for the market share which stimulates people’s travel needs.
77% online travelers would search online travel service on mobile device which indicated there is great potential in mobile travel market. More and more users accept booking system for air-ticket, hotel and scenic attraction ticket on mobile device. According to Tencent’s research, 57% Chinese made travel booking online.
The major revenue of China online travel market is from air-ticket and the data shows the revenue had decreased by 1.7% in 2014. Revenue from hotel booking service decreased by 0.7% mainly due to fewer promotions for hotel booking. Chinese young group tend to travel as they like stimulates the need for online vacation market in 2014.
Ctrip, as one of the earliest brand in China online vacation market. represented 23% market share, ranking top, followed by Tuniu and eLong in 2014.
Self-guided travel accounted for 69% in China vacation market while agency group travel accounted for 31% in 2014. Agency group travel is more suitable for middle aged and the elderly while self-guided travel is now powerful in China online travel market.
In 2014, outbound tourism was the major part in China online travel market, representing 43%, followed by nearby tour (31%) and domestic travel (26%). Nearby tour although had low consumption, its users now are growing rapidly with high consumption frequency which indicates it will gradually become the first choice to travel on weekends.
70% rural residents in China would like to go traveling and Beijing is the first choice for them according to China Tourism Industry Report in 2014 released by China Tourism Academy.
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