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China Tourism Report Q1 2010
Market |
Travel |
Report Type |
Market Research |
Country |
China |
Published |
10 December 2009 |
Number of Pages |
50 |
Download |
|
Immediate |
|
Publisher |
Business Monitor International |
Faint Signs Of Recovery Figures released by the China National Tourism Administration (CNTA) in September 2009 showed that the country’s tourism industry may be starting to recover from the downturn sparked by the global economic slowdown. Tourist arrivals grew for the first time in 15 months, suggesting that the industry has already hit the bottom. In August 2009, arrivals to mainland China totalled 11.1mn, a 3.06% increase year-on-year (y-o-y). This was in sharp contrast to July, when arrivals fell by 3.05% y-o-y to 10.72mn.
The August y-o-y recovery is even more impressive since August 2008 registered high numbers of arrivals as a result of the Beijing Olympics.
The Chinese authorities are therefore becoming more optimistic about prospects for the industry in 2009 overall. The CNTA believes that tourist arrivals and revenues will have grown by 1.0% in 2009.
However, despite the improvement in August tourist arrivals, we are more cautious given the ongoing subdued nature of the global tourist industry. As such, we maintain our forecast of arrivals of 144mn in 2009, although with an overall positive outlook for the forecast period.
Domestic Tourism Boom At the same time that China’s international tourism is slowing, domestic tourism is surging. This is partly in response to government-led initiatives to boost the domestic industry and compensate for the slowdown in international arrivals. In addition, Chinese tourists experiencing income pressures as a result of the slowdown are finding it more cost effective to travel within China rather than go abroad. As a result, domestic tourism arrivals rose by 12.0% y-o-y during the first eight months of 2009, with the Tibet, Macao and Hong Kong benefiting especially. Domestic tourism is expected to have received a boost in October 2009 as a result of the national holiday surrounding celebrations for the 60th anniversary of the founding of the People’s Republic.
East Star Airlines Goes Bankrupt The slight uptick in tourist arrivals be too late for the airline industry in 2009. In late August, the privately owned East Star Airlines, based in Wuhan, central China, officially filed for bankruptcy. The airline, which was owned by East Star Group, reported debt of approximately CNY752 million. East Star operated 20 passenger routes with a fleet of nine aircraft, making it China’s fourth largest private airline, behind OK Airlines, United Eagle Airlines and Spring Airlines. In March, the airline rejected an offer from state-owned Air China to take over its operations. Neither are state majority-owned airlines immune from the downturn and in October, China Eastern and Shanghai Airlines announced that a merger restructuring plan had been approved by the shareholders of both airlines. The carriers, which have been code-sharing since the merger was first agreed in July, will be relaunched as New China Eastern following approval by the regulatory authorities.
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