BUSINESS China's domestic tourism market projected to reach 1.5 tln USD

BUSINESS

China's domestic tourism market projected to reach 1.5 tln USD

Xinhua

09:35, December 14, 2020

Photo: Xinhua

Projections indicate that China's domestic tourism market will receive 10 billion visitors per year on average, with the consumption reaching 10 trillion yuan (about 1.5 trillion U.S. dollars) in the next five years, according to a report issued by the China Tourism Academy on Sunday.

In 2019, China recorded over six billion domestic tourist trips, said the report released at a tourism-related forum, held on Saturday and Sunday in Beijing.

The report added that China saw over 145 million inbound tourist trips in 2019, and its annual tourism revenue topped 6.63 trillion yuan.

In the next five years, the contribution of China's domestic tourism market to the national economy and employment will likely stay above 10 percent, according to the report.

Also at the forum, Hu Heping, minister of culture and tourism, stressed the importance of developing mass and smart tourism, promoting the integrated development of culture and tourism, as well as strengthening market regulation, among others.

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