Agencies benefit from ongoing tourism boom
China is expected to become the world’s number one tourist destination and number four in outbound travel by 2015, according to the World Tourism Organization.
The sharp rise in tourism, driven primarily by increased affluence, affects many industries indirectly, including hotels, airlines and restaurants. The most direct impact, however, is on travel agencies. The brand value of the travel agency category grew substantially in the BrandZ™ Top 100 Most Valuable Chinese Brands. The growth resulted from a 47 percent gain in brand value by Ctrip and the inclusion of CITS in the ranking for the first time.
Ctrip, which books travel online and through call centers, introduced a mobile strategy late in 2013, which helped increase the number of young customers. CITS, an SOE (State Owned Enterprise), expanded its portfolio of travel packages.