China's Domestic Travel Spending to Reach 10trn RMB | Dao Insights

China’s domestic travel consumption to reach 10 trillion RMB annually

According to the “2020 Tourism Group Development Report” released by the China Tourism Academy, China’s domestic travel market is expected to grow considerably over the next five years. The report predicts that 10 billion domestic trips will take place per year over the next five years. Annual tourism consumption is predicted to reach 10 trillion RMB.

In 2019, 6 billion domestic trips were made in China, a 8.4% increase year-on-year, with total tourism revenue amounting to 6.6 trillion RMB. The flow of inbound and outbound trips grew by 2.9% to 145.3 million and 3.3% to 154.6 million respectively.

China’s domestic travel industry has huge potential in the next few years as COVID-19 has encouraged Chinese tourists to travel domestically. Festivals, such as Labour Day and the National Day holiday which saw 637 million domestic trips, have helped revive China’s tourism industry following the COVID-19 outbreak. The pandemic has also led to initiatives by the Chinese government to boost the domestic travel industry.

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