Technological advancement and changes in consumer behavior have meant that the Chinese travel industry has taken huge economic strides recently. OTA’s, hotels and airlines have all benefited from an increase in online bookings from RMB 442 million in 2002, to RMB 18.2 billion in 2007.
Inbound, internet-savvy visitors to China have provided the perfect reason for China based travel businesses to implement new technologies – and so they are.
IHG have recently introduced a facility whereby Chinese guests who do not carry foreign bank cards have access to real-time hotel confirmations and online payments. Wyndham now allow users to complete the booking process in their own native language, making it more comfortable in a country where credit card fraud has been problematic.
Both of these are excellent technological advancements that help to facilitate change in consumer buyer behavior across China.
The airline sector is experiencing a boom period as well, fueled by the strengthening economy and the mobilized Chinese middle class. The airline sector now accounts for 28% of the total travel market – up from 21% in 2002 – and is China’s fastest-growing travel segment.
The outlook for the Chinese travel industry will be discussed in-depth at this year’s Travel Distribution and Sales conference, which will play host to a collection of industry experts this September in Beijing.
Described as a key event for the serious Chinese travel players, the 2008 event sees leading local and international brands combining to mix local knowledge with global experience.
Discussion focuses on the increasing Chinese opportunity, and how new travel distribution and sales trends and technologies are impacting all travel businesses. The mixture of senior leaders from major local brands, shows that this event is gaining importance as the Chinese brand continues to strengthen.
For more information about the conference, including a speaker list and how to register for the early bird discounted prices, visit www.eyefortravel.com/tdchina