China's travel market has grown by leaps and bounds over the past decade, and online travel booking is increasingly occupying a dominant position within the market as consumer preferences shift in favor of independent, personalized travel over packaged group tours.
In 2017, year-on-year growth in the online travel market in China hovered around 25%, lower than in years past, but still among the most rapid growth of any major economy.
Online travel booking
In Q3 2017, the online travel market recorded a transaction volume of 209.6 billion yuan (US$33.4 billion), equating to growth of 24% over Q3 2016. Growth has slipped significantly since the year prior (34.9% to 24.0%), likely because the market is increasingly sated by existing companies and offerings.
OTA Market
The majority of the online travel market is filled by Online Travel Agencies (OTA's), which collectively account for 165.5 billion yuan (US$26.39 billion) of the 209.6 billion yuan market.
Growth, howe...
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